ONEOK (NYSE:OKE) Coverage Initiated at Jefferies Financial Group

Investment analysts at Jefferies Financial Group started coverage on shares of ONEOK (NYSE:OKE) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set a “hold” rating and a $80.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 5.50% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research note on Thursday, October 30th. Scotiabank reaffirmed an “outperform” rating and set a $91.00 target price on shares of ONEOK in a research report on Friday, January 16th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Barclays lowered their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

ONEOK Trading Up 2.4%

Shares of NYSE OKE opened at $75.83 on Tuesday. ONEOK has a fifty-two week low of $64.02 and a fifty-two week high of $110.62. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The company has a market cap of $47.72 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 4.16 and a beta of 0.94. The business’s 50 day moving average price is $72.79 and its 200-day moving average price is $73.53.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts expect that ONEOK will post 5.07 earnings per share for the current year.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On ONEOK

A number of large investors have recently added to or reduced their stakes in OKE. Bogart Wealth LLC grew its position in shares of ONEOK by 3.1% in the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after buying an additional 122 shares during the last quarter. Empowered Funds LLC boosted its stake in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. boosted its stake in ONEOK by 5.8% in the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 140 shares in the last quarter. Focused Wealth Management Inc grew its holdings in ONEOK by 4.3% in the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after purchasing an additional 142 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its position in shares of ONEOK by 4.2% during the second quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock worth $270,000 after purchasing an additional 144 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.