ONEOK (OKE) Receives “Buy” Rating from BMO Capital Markets
ONEOK (NYSE:OKE)‘s stock had its “buy” rating restated by stock analysts at BMO Capital Markets in a research note issued to investors on Tuesday. They presently have a $64.00 price target on the utilities provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 9.08% from the company’s previous close.
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered ONEOK from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. Mizuho began coverage on ONEOK in a report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 price target for the company. UBS Group raised their price target on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $54.00 price target on shares of ONEOK in a report on Thursday, October 12th. Finally, Wells Fargo & Co raised ONEOK from a “market perform” rating to an “outperform” rating in a report on Thursday, January 11th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $59.29.
Shares of ONEOK (NYSE:OKE) traded up $0.31 during midday trading on Tuesday, reaching $58.67. The company’s stock had a trading volume of 2,965,200 shares, compared to its average volume of 3,619,600. ONEOK has a 1-year low of $47.14 and a 1-year high of $59.30. The company has a market capitalization of $22,550.00, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.
In other ONEOK news, Director Brian L. Derksen acquired 1,800 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Capstone Investment Advisors Netherlands B.V. raised its position in ONEOK by 31.3% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 3,071 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 732 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in ONEOK by 4.8% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,520 shares of the utilities provider’s stock valued at $1,018,000 after purchasing an additional 897 shares in the last quarter. Benson Investment Management Company Inc. raised its position in ONEOK by 2.1% during the fourth quarter. Benson Investment Management Company Inc. now owns 44,565 shares of the utilities provider’s stock valued at $2,382,000 after purchasing an additional 905 shares in the last quarter. Sentry Investment Management LLC raised its position in ONEOK by 6.9% during the second quarter. Sentry Investment Management LLC now owns 16,252 shares of the utilities provider’s stock valued at $848,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Heritage Trust Co raised its position in ONEOK by 16.4% during the third quarter. Heritage Trust Co now owns 8,388 shares of the utilities provider’s stock valued at $464,000 after purchasing an additional 1,179 shares in the last quarter. 69.94% 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.
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