Scotiabank Issues Pessimistic Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its target price dropped by research analysts at Scotiabank from $88.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price objective suggests a potential upside of 31.26% from the stock’s previous close.

Several other equities research analysts also recently weighed in on OKE. Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Morgan Stanley dropped their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Mizuho dropped their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Wells Fargo & Company dropped their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Finally, Citigroup dropped their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.80.

ONEOK Price Performance

OKE opened at $66.28 on Tuesday. The company has a 50-day moving average of $71.24 and a 200-day moving average of $77.42. The company has a market capitalization of $41.71 billion, a P/E ratio of 12.18, a PEG ratio of 2.62 and a beta of 1.01. ONEOK has a 1-year low of $64.02 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The company had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter in the previous year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts expect that ONEOK will post 5.07 EPS for the current fiscal year.

Insider Activity at ONEOK

In other news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fullcircle Wealth LLC boosted its stake in ONEOK by 106.6% during the 3rd quarter. Fullcircle Wealth LLC now owns 15,777 shares of the utilities provider’s stock valued at $1,151,000 after purchasing an additional 8,140 shares during the period. First Dallas Securities Inc. boosted its stake in ONEOK by 2.6% during the 3rd quarter. First Dallas Securities Inc. now owns 73,113 shares of the utilities provider’s stock valued at $5,335,000 after purchasing an additional 1,860 shares during the period. Smartleaf Asset Management LLC boosted its stake in ONEOK by 16.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 11,609 shares of the utilities provider’s stock valued at $849,000 after purchasing an additional 1,604 shares during the period. Alps Advisors Inc. boosted its stake in ONEOK by 16.9% during the 3rd quarter. Alps Advisors Inc. now owns 654,162 shares of the utilities provider’s stock valued at $47,734,000 after purchasing an additional 94,543 shares during the period. Finally, Canada Post Corp Registered Pension Plan boosted its stake in ONEOK by 7.5% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 11,134 shares of the utilities provider’s stock valued at $814,000 after purchasing an additional 780 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.