ONEOK (OKE) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of ONEOK (NYSE:OKE) from a neutral rating to an overweight rating in a research report released on Tuesday, Marketbeat reports. They currently have $74.00 target price on the utilities provider’s stock, down from their prior target price of $75.00.

OKE has been the topic of several other reports. Zacks Investment Research upgraded shares of ONEOK from a hold rating to a buy rating and set a $75.00 price objective on the stock in a report on Friday, October 19th. Morgan Stanley lowered shares of ONEOK to a hold rating in a report on Thursday, December 20th. Mizuho began coverage on shares of ONEOK in a report on Wednesday, November 28th. They issued a neutral rating and a $70.00 price objective on the stock. Seaport Global Securities upgraded shares of ONEOK from a neutral rating to a buy rating and set a $75.00 price objective on the stock in a report on Friday, October 19th. Finally, Wells Fargo & Co boosted their price objective on shares of ONEOK from $75.00 to $76.00 and gave the company an outperform rating in a report on Thursday, November 1st. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. ONEOK has an average rating of Buy and a consensus price target of $70.47.

Shares of OKE opened at $59.80 on Tuesday. The stock has a market capitalization of $24.57 billion, a P/E ratio of 33.98, a P/E/G ratio of 2.21 and a beta of 0.96. ONEOK has a 12-month low of $50.26 and a 12-month high of $71.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.51 and a current ratio of 0.74.



ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.31 billion. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. During the same period in the previous year, the firm earned $0.43 EPS. Analysts expect that ONEOK will post 2.82 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chickasaw Capital Management LLC grew its position in shares of ONEOK by 735.8% during the fourth quarter. Chickasaw Capital Management LLC now owns 718,755 shares of the utilities provider’s stock worth $38,777,000 after buying an additional 632,755 shares in the last quarter. Walnut Private Equity Partners LLC grew its position in shares of ONEOK by 0.3% during the fourth quarter. Walnut Private Equity Partners LLC now owns 154,150 shares of the utilities provider’s stock worth $8,316,000 after buying an additional 405 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of ONEOK by 1,391.8% during the fourth quarter. Sound Income Strategies LLC now owns 2,745 shares of the utilities provider’s stock worth $148,000 after buying an additional 2,561 shares in the last quarter. First Hawaiian Bank grew its position in shares of ONEOK by 81.6% during the fourth quarter. First Hawaiian Bank now owns 4,758 shares of the utilities provider’s stock worth $257,000 after buying an additional 2,138 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of ONEOK by 4.7% during the fourth quarter. State of Alaska Department of Revenue now owns 154,814 shares of the utilities provider’s stock worth $8,350,000 after buying an additional 6,948 shares in the last quarter. 73.14% of the stock is owned by institutional investors.

About ONEOK

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

Featured Article: How Do Investors Open a Backdoor Roth IRA?

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