ONEOK, Inc. (OKE) Given Consensus Recommendation of “Buy” by Brokerages
ONEOK, Inc. (NYSE:OKE) has received a consensus recommendation of “Buy” from the seventeen brokerages that are covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $58.86.
A number of research firms have issued reports on OKE. BidaskClub raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Credit Suisse Group cut their price objective on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. J P Morgan Chase & Co reissued a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a report on Monday, September 11th. Argus reissued a “buy” rating and issued a $59.00 price objective (up previously from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $54.00 price objective on shares of ONEOK in a report on Thursday, October 12th.
ONEOK (NYSE:OKE) traded up 0.34% during midday trading on Friday, hitting $56.00. 2,309,081 shares of the company traded hands. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of 35.09 and a beta of 1.30. The stock’s 50-day moving average price is $55.95 and its 200 day moving average price is $53.23. ONEOK has a 12-month low of $45.41 and a 12-month high of $59.47.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.12). The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same period in the prior year, the firm earned $0.40 EPS. On average, equities analysts forecast that ONEOK will post $1.72 EPS for the current year.
Several institutional investors have recently modified their holdings of OKE. Delta Asset Management LLC TN bought a new stake in shares of ONEOK during the 2nd quarter worth approximately $103,000. Ropes Wealth Advisors LLC bought a new stake in shares of ONEOK during the 2nd quarter worth approximately $103,000. Smithfield Trust Co. lifted its holdings in shares of ONEOK by 107.7% during the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,034 shares during the period. Winslow Evans & Crocker Inc. lifted its holdings in shares of ONEOK by 462.9% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,620 shares during the period. Finally, Highlander Capital Management LLC bought a new stake in shares of ONEOK during the 2nd quarter worth approximately $154,000. 51.30% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/22/oneok-inc-oke-given-consensus-recommendation-of-buy-by-brokerages.html.
ONEOK Company Profile
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.
Receive News & Ratings for ONEOK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK Inc. and related companies with MarketBeat.com's FREE daily email newsletter.