ONEOK (NYSE:OKE) Coverage Initiated at Tudor Pickering

Investment analysts at Tudor Pickering initiated coverage on shares of ONEOK (NYSE:OKE) in a report issued on Friday, The Fly reports. The firm set a “buy” rating and a $74.00 price target on the utilities provider’s stock. Tudor Pickering’s price target would indicate a potential upside of 4.99% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Mitsubishi UFJ Financial Group increased their price objective on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. UBS Group dropped their price objective on shares of ONEOK from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays set a $79.00 price objective on shares of ONEOK and gave the company a “hold” rating in a research note on Tuesday, October 15th. Argus raised their target price on shares of ONEOK to $82.00 and gave the company an “average” rating in a research note on Tuesday, August 6th. Finally, Raymond James lowered their target price on shares of ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $74.71.

Shares of NYSE OKE traded up $0.71 during midday trading on Friday, reaching $70.48. 1,716,742 shares of the company’s stock traded hands, compared to its average volume of 1,912,538. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.01. The stock’s 50 day simple moving average is $71.29 and its 200-day simple moving average is $69.30. ONEOK has a one year low of $50.26 and a one year high of $77.21. The company has a market cap of $29.68 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 2.20 and a beta of 1.13.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm earned $0.75 earnings per share. Equities analysts predict that ONEOK will post 3.1 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Krane Funds Advisors LLC acquired a new stake in shares of ONEOK during the second quarter worth $27,000. JNBA Financial Advisors lifted its stake in shares of ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after buying an additional 200 shares during the period. IMA Wealth Inc. acquired a new stake in shares of ONEOK during the second quarter worth $32,000. Gradient Investments LLC lifted its stake in shares of ONEOK by 82.3% during the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock worth $40,000 after buying an additional 260 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of ONEOK by 498.0% during the second quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock worth $42,000 after buying an additional 508 shares during the period. Institutional investors own 74.40% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

Featured Article: What does RSI mean?

The Fly

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.