UBS Group Issues Positive Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its target price boosted by equities research analysts at UBS Group from $112.00 to $132.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. UBS Group’s target price indicates a potential upside of 20.21% from the stock’s previous close.

OKE has been the topic of a number of other reports. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Scotiabank boosted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Price Performance

Shares of OKE opened at $109.81 on Friday. The company has a market capitalization of $64.15 billion, a P/E ratio of 22.97, a P/E/G ratio of 5.40 and a beta of 1.66. The business’s 50-day moving average is $96.54 and its two-hundred day moving average is $87.58. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK has a fifty-two week low of $64.68 and a fifty-two week high of $110.05.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. Research analysts predict that ONEOK will post 5.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Barclays PLC boosted its stake in ONEOK by 16.1% during the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after buying an additional 262,486 shares during the period. Continuum Advisory LLC increased its position in shares of ONEOK by 46.5% during the third quarter. Continuum Advisory LLC now owns 1,434 shares of the utilities provider’s stock valued at $131,000 after acquiring an additional 455 shares during the last quarter. Hamilton Capital LLC purchased a new stake in shares of ONEOK in the 3rd quarter valued at approximately $281,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of ONEOK by 4.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,381 shares of the utilities provider’s stock valued at $16,438,000 after acquiring an additional 7,238 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

About ONEOK

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.