ONEOK (NYSE:OKE) Price Target Increased to $92.00 by Analysts at JPMorgan Chase & Co.

ONEOK (NYSE:OKE) had its target price increased by analysts at JPMorgan Chase & Co. from $89.00 to $92.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.79% from the stock’s current price.

OKE has been the topic of a number of other reports. UBS Group increased their price target on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Citigroup raised their price objective on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Wells Fargo & Company increased their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus raised their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus price target of $84.50.

ONEOK Stock Down 0.2 %

Shares of ONEOK stock traded down $0.17 during midday trading on Wednesday, hitting $80.85. The company’s stock had a trading volume of 74,944 shares, compared to its average volume of 2,837,617. The firm has a market capitalization of $47.19 billion, a P/E ratio of 18.84, a PEG ratio of 4.34 and a beta of 1.65. The stock has a 50-day simple moving average of $80.00 and a 200-day simple moving average of $75.58. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK has a 1-year low of $58.51 and a 1-year high of $83.31.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the company earned $2.34 earnings per share. As a group, sell-side analysts expect that ONEOK will post 4.94 earnings per share for the current year.

Institutional Trading of ONEOK

Large investors have recently made changes to their positions in the stock. Abich Financial Wealth Management LLC raised its stake in ONEOK by 56.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,768 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 635 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in ONEOK by 21.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,554 shares of the utilities provider’s stock worth $123,000 after buying an additional 272 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in ONEOK by 1.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 124,244 shares of the utilities provider’s stock worth $9,864,000 after buying an additional 2,028 shares during the period. Aurora Investment Counsel lifted its holdings in shares of ONEOK by 11.8% during the 1st quarter. Aurora Investment Counsel now owns 25,591 shares of the utilities provider’s stock valued at $2,052,000 after purchasing an additional 2,701 shares during the last quarter. Finally, Granite Group Advisors LLC lifted its holdings in shares of ONEOK by 4.0% during the 1st quarter. Granite Group Advisors LLC now owns 5,664 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 220 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

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.