ONEOK, Inc. (NYSE:OKE)‘s stock had its “neutral” rating reiterated by equities research analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Monday. They presently have a $58.00 price objective on the utilities provider’s stock. J P Morgan Chase & Co’s price target would indicate a potential upside of 3.17% from the company’s previous close.

A number of other brokerages have also commented on OKE. Morgan Stanley lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price target (up previously from $51.00) on shares of ONEOK in a report on Friday, September 1st. BidaskClub raised shares of ONEOK from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 21st. Finally, Zacks Investment Research lowered shares of ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. ONEOK currently has a consensus rating of “Hold” and an average price target of $57.57.

Shares of ONEOK (NYSE OKE) traded up 0.44% during mid-day trading on Monday, reaching $56.47. 875,893 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $53.84 and a 200 day moving average price of $52.81. ONEOK has a 52-week low of $45.41 and a 52-week high of $59.47. The firm has a market cap of $21.46 billion, a P/E ratio of 35.38 and a beta of 1.32.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.12. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same period in the previous year, the company earned $0.40 EPS. Analysts forecast that ONEOK will post $1.68 earnings per share for the current fiscal year.

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In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CHICAGO TRUST Co NA boosted its position in ONEOK by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock valued at $210,000 after buying an additional 20 shares during the period. Cleararc Capital Inc. boosted its position in ONEOK by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 5,147 shares of the utilities provider’s stock valued at $285,000 after buying an additional 36 shares during the period. New Amsterdam Partners LLC NY boosted its position in ONEOK by 0.6% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 9,367 shares of the utilities provider’s stock valued at $489,000 after buying an additional 58 shares during the period. Stephens Inc. AR boosted its position in ONEOK by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 15,430 shares of the utilities provider’s stock valued at $805,000 after buying an additional 58 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in ONEOK by 0.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,076 shares of the utilities provider’s stock valued at $448,000 after buying an additional 60 shares during the period. 51.23% of the stock is owned by institutional investors and hedge funds.

About ONEOK

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

Analyst Recommendations for ONEOK (NYSE:OKE)

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