ONEOK, Inc. (OKE) PT Raised to $61.00 at UBS AG
ONEOK, Inc. (NYSE:OKE) had its price target lifted by analysts at UBS AG from $60.00 to $61.00 in a report released on Wednesday, www.benzinga.com reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. UBS AG’s price target indicates a potential upside of 12.40% from the company’s previous close.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets set a $62.00 price objective on shares of ONEOK and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 price objective on shares of ONEOK in a research report on Thursday, October 12th. Mizuho started coverage on ONEOK in a research note on Tuesday, October 10th. They set a “neutral” rating and a $59.00 target price for the company. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $58.00 target price on shares of ONEOK in a research note on Monday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $59.00.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the company earned $0.43 EPS.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/11/01/oneok-inc-oke-pt-raised-to-61-00-at-ubs-ag.html.
Several institutional investors have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board increased its stake in shares of ONEOK by 6,897.2% in the third quarter. State of Wisconsin Investment Board now owns 308,788 shares of the utilities provider’s stock valued at $17,110,000 after buying an additional 304,375 shares during the period. SFE Investment Counsel increased its stake in shares of ONEOK by 754.4% in the third quarter. SFE Investment Counsel now owns 52,628 shares of the utilities provider’s stock valued at $2,916,000 after buying an additional 46,468 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of ONEOK by 83.2% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 62,664 shares of the utilities provider’s stock valued at $3,472,000 after buying an additional 28,465 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of ONEOK by 76.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 57,365 shares of the utilities provider’s stock valued at $3,179,000 after buying an additional 24,795 shares during the period. Finally, Lincoln National Corp acquired a new position in shares of ONEOK in the third quarter valued at approximately $374,000. 51.78% of the stock is owned by institutional investors.
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.