Oneok Inc. (OKE) Upgraded to “Hold” at Deutsche Bank AG
Oneok Inc. (NYSE:OKE) was upgraded by research analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday. The firm presently has a $52.00 target price on the stock, up from their previous target price of $49.00. Deutsche Bank AG’s price target would suggest a potential upside of 3.28% from the company’s previous close.
A number of other research analysts have also recently weighed in on OKE. Argus cut shares of Oneok from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. Citigroup Inc. lifted their target price on shares of Oneok from $35.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 17th. Jefferies Group lifted their target price on shares of Oneok from $42.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, July 25th. Zacks Investment Research upgraded shares of Oneok from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, July 26th. Finally, Royal Bank Of Canada lifted their target price on shares of Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 16th. Fourteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Oneok currently has an average rating of “Hold” and a consensus target price of $40.79.
Shares of Oneok (NYSE:OKE) traded up 2.01% on Monday, hitting $50.35. The stock had a trading volume of 1,346,458 shares. Oneok has a 12 month low of $18.84 and a 12 month high of $51.72. The company has a 50 day moving average price of $48.60 and a 200-day moving average price of $43.00. The stock has a market cap of $10.59 billion, a PE ratio of 38.29 and a beta of 1.10.
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Oneok (NYSE:OKE) last released its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.03. Oneok had a net margin of 3.58% and a return on equity of 9.41%. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that Oneok will post $1.72 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Credit Agricole S A boosted its stake in shares of Oneok by 9.6% in the first quarter. Credit Agricole S A now owns 130,267 shares of the company’s stock valued at $3,890,000 after buying an additional 11,393 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Oneok by 56.0% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,506 shares of the company’s stock valued at $433,000 after buying an additional 5,210 shares in the last quarter. Smith Moore & CO. acquired a new stake in shares of Oneok during the first quarter valued at about $796,000. M&T Bank Corp boosted its stake in shares of Oneok by 17.9% in the first quarter. M&T Bank Corp now owns 18,673 shares of the company’s stock valued at $557,000 after buying an additional 2,831 shares in the last quarter. Finally, Menta Capital LLC acquired a new stake in shares of Oneok during the first quarter valued at about $355,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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