ONEOK, Inc. (NYSE:OKE) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a research note on Monday, March 6th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price objective on shares of ONEOK in a research note on Wednesday, March 1st. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, March 8th. Guggenheim started coverage on shares of ONEOK in a research note on Monday, April 17th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 price objective on shares of ONEOK in a research note on Friday, May 12th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $57.30.

Analyst Recommendations for ONEOK (NYSE:OKE)

ONEOK (NYSE:OKE) opened at 47.50 on Wednesday. The stock’s 50 day moving average is $50.45 and its 200-day moving average is $54.16. The company has a market capitalization of $10.02 billion, a P/E ratio of 28.36 and a beta of 1.28. ONEOK has a 12-month low of $42.79 and a 12-month high of $59.47.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.04. ONEOK had a net margin of 3.60% and a return on equity of 10.33%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.82 billion. On average, equities analysts predict that ONEOK will post $1.88 earnings per share for the current fiscal year.

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In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the transaction, the director now owns 18,125 shares of the company’s stock, valued at $912,412.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV bought a new position in ONEOK during the first quarter worth approximately $100,000. Washington Trust Bank boosted its position in ONEOK by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the utilities provider’s stock worth $103,000 after buying an additional 11 shares during the period. New York Life Trust Co. boosted its position in ONEOK by 281.3% in the third quarter. New York Life Trust Co. now owns 2,055 shares of the utilities provider’s stock worth $106,000 after buying an additional 1,516 shares during the period. Blenheim Capital Management BV bought a new position in ONEOK during the fourth quarter worth approximately $122,000. Finally, Huntington National Bank boosted its position in ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock worth $122,000 after buying an additional 554 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

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.

The Fly

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