ONEOK (NYSE:OKE) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

ONEOK (NYSE:OKE) had its price objective hoisted by equities researchers at Royal Bank Of Canada from $79.00 to $84.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the utilities provider’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 5.85% from the company’s previous close.

A number of other equities research analysts also recently commented on OKE. Barclays lifted their target price on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. UBS Group lowered their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Scotiabank reaffirmed an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a report on Friday, January 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.53.

ONEOK Price Performance

OKE opened at $89.22 on Thursday. The company’s 50-day simple moving average is $82.10 and its two-hundred day simple moving average is $75.17. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The stock has a market capitalization of $56.19 billion, a P/E ratio of 16.46, a P/E/G ratio of 6.73 and a beta of 0.93. ONEOK has a 52-week low of $64.02 and a 52-week high of $103.64.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same period in the previous year, the business posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts predict that ONEOK will post 5.07 EPS for the current year.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its holdings in ONEOK by 17.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 395,776 shares of the utilities provider’s stock valued at $29,090,000 after purchasing an additional 59,666 shares during the period. World Investment Advisors raised its stake in shares of ONEOK by 78.8% in the fourth quarter. World Investment Advisors now owns 20,615 shares of the utilities provider’s stock worth $1,515,000 after buying an additional 9,083 shares during the period. Brighton Securities CORP. lifted its position in shares of ONEOK by 58.4% during the 4th quarter. Brighton Securities CORP. now owns 5,355 shares of the utilities provider’s stock valued at $394,000 after buying an additional 1,975 shares in the last quarter. Worthington Financial Partners LLC purchased a new position in shares of ONEOK during the 4th quarter valued at about $220,000. Finally, Pure Financial Advisors LLC grew its stake in shares of ONEOK by 6.7% during the 4th quarter. Pure Financial Advisors LLC now owns 6,810 shares of the utilities provider’s stock valued at $501,000 after acquiring an additional 428 shares during the period. 69.13% of the stock is currently owned by hedge funds and other 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.