JPMorgan Chase & Co. Increases ONEOK (OKE) Price Target to $62.00

ONEOK (NYSE:OKE) had its price target upped by analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a report issued on Monday. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 14.12% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. UBS Group raised their price objective on shares of ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Barclays upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $58.00 to $67.00 in a research report on Wednesday, January 17th. Stifel Nicolaus reiterated a “hold” rating and set a $55.00 target price on shares of ONEOK in a research report on Friday, November 3rd. Finally, Bank of America initiated coverage on shares of ONEOK in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $60.15.

ONEOK (NYSE:OKE) opened at $54.33 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41. ONEOK has a 1 year low of $47.14 and a 1 year high of $61.36. The company has a market cap of $22,150.00, a P/E ratio of 33.96, a PEG ratio of 1.72 and a beta of 1.26.

In related news, Director Brian L. Derksen bought 1,800 shares of the company’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $51.00 per share, for a total transaction of $91,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of ONEOK by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 912,694 shares of the utilities provider’s stock worth $47,603,000 after acquiring an additional 13,443 shares in the last quarter. Starr International Co. Inc. purchased a new position in shares of ONEOK during the third quarter worth approximately $8,089,000. New York State Common Retirement Fund raised its stake in shares of ONEOK by 1.6% during the third quarter. New York State Common Retirement Fund now owns 552,700 shares of the utilities provider’s stock worth $30,625,000 after acquiring an additional 8,800 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of ONEOK by 3.3% during the third quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock worth $520,782,000 after acquiring an additional 300,031 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of ONEOK by 240.1% during the third quarter. Shell Asset Management Co. now owns 47,465 shares of the utilities provider’s stock worth $3,111,000 after acquiring an additional 33,507 shares in the last quarter. 66.59% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This article was reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/12/jpmorgan-chase-co-increases-oneok-oke-price-target-to-62-00.html.

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)

Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply