ONEOK, Inc. (OKE) Upgraded by BidaskClub to “Sell”
ONEOK, Inc. (NYSE:OKE) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday.
A number of other research firms have also recently commented on OKE. Jefferies Group LLC reissued a “hold” rating and set a $51.00 target price on shares of ONEOK in a research report on Friday, March 31st. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, June 21st. Zacks Investment Research cut shares of ONEOK from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus started coverage on shares of ONEOK in a research report on Monday. They set a “hold” rating and a $48.00 target price for the company. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $58.00 target price on shares of ONEOK in a research report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, eight have issued 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 $56.33.
ONEOK (NYSE OKE) traded up 0.28% during trading on Tuesday, hitting $50.68. The stock had a trading volume of 3,299,392 shares. ONEOK has a 1-year low of $42.79 and a 1-year high of $59.47. The stock’s 50-day moving average price is $50.45 and its 200-day moving average price is $54.16. The company has a market capitalization of $10.69 billion, a P/E ratio of 30.26 and a beta of 1.28.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.04. ONEOK had a net margin of 6.77% and a return on equity of 164.07%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Analysts expect that ONEOK will post $1.91 earnings per share for the current year.
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In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in ONEOK by 3.9% in the first quarter. Vanguard Group Inc. now owns 23,195,157 shares of the utilities provider’s stock worth $1,285,939,000 after buying an additional 875,668 shares in the last quarter. BlackRock Inc. boosted its position in ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock worth $1,036,584,000 after buying an additional 18,091,903 shares in the last quarter. State Street Corp boosted its position in ONEOK by 6.1% in the first quarter. State Street Corp now owns 11,330,235 shares of the utilities provider’s stock worth $628,143,000 after buying an additional 649,957 shares in the last quarter. Neuberger Berman Group LLC boosted its position in ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock worth $475,243,000 after buying an additional 1,190,284 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in ONEOK by 15.9% in the first quarter. Bank of New York Mellon Corp now owns 5,455,920 shares of the utilities provider’s stock worth $302,476,000 after buying an additional 749,725 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.
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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