Jefferies Group LLC Analysts Give ONEOK, Inc. (OKE) a $51.00 Price Target
ONEOK, Inc. (NYSE:OKE) has been assigned a $51.00 price target by research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. The brokerage presently has a “hold” rating on the utilities provider’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 0.06% from the stock’s current price.
OKE has been the subject of several other research reports. TheStreet raised ONEOK from a “c+” rating to a “b-” rating in a report on Monday, March 6th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of ONEOK in a report on Wednesday, March 1st. Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, March 8th. Guggenheim assumed coverage on ONEOK in a report on Monday, April 17th. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price objective on shares of ONEOK in a report on Friday, May 12th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.30.
ONEOK (OKE) traded down 0.71% during trading on Friday, hitting $50.61. 808,063 shares of the company’s stock traded hands. The company’s 50 day moving average price is $50.68 and its 200 day moving average price is $54.24. ONEOK has a 52-week low of $42.79 and a 52-week high of $59.47. The company has a market cap of $10.67 billion, a PE ratio of 30.21 and a beta of 1.28.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.04. ONEOK had a return on equity of 10.33% and a net margin of 3.60%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Analysts expect that ONEOK will post $1.88 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of OKE. Massmutual Trust Co. FSB ADV bought a new position in shares of ONEOK during the first quarter valued at approximately $100,000. Blenheim Capital Management BV bought a new position in shares of ONEOK during the fourth quarter valued at approximately $122,000. Huntington National Bank increased its position in shares of ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock valued at $122,000 after buying an additional 554 shares in the last quarter. Financial Architects Inc increased its position in shares of ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock valued at $208,000 after buying an additional 2,340 shares in the last quarter. Finally, Agran Libbie bought a new position in shares of ONEOK during the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 81.60% of the company’s stock.
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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