ONEOK (NYSE:OKE) PT Raised to $81.00 at Mizuho

ONEOK (NYSE:OKEGet Free Report) had its price objective boosted by analysts at Mizuho from $75.00 to $81.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Mizuho’s price target suggests a potential upside of 1.95% from the stock’s current price.

A number of other research firms have also commented on OKE. Citigroup upped their price objective on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Raymond James lifted their price objective on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Truist Financial upped their target price on ONEOK from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Bank of America raised shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $72.00 to $83.00 in a research note on Monday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $81.40.

Read Our Latest Research Report on ONEOK

ONEOK Stock Performance

NYSE:OKE opened at $79.45 on Wednesday. The stock’s 50-day moving average is $72.43 and its 200-day moving average is $68.99. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK has a 1-year low of $55.91 and a 1-year high of $79.89. The stock has a market cap of $46.34 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.26 and a beta of 1.65.

ONEOK (NYSE:OKEGet Free Report) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the previous year, the company earned $1.08 earnings per share. Equities research analysts anticipate that ONEOK will post 4.99 earnings per share for the current year.

ONEOK announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

Institutional Trading of ONEOK

A number of hedge funds have recently bought and sold shares of the business. Addis & Hill Inc purchased a new position in shares of ONEOK in the 4th quarter worth about $519,000. MONECO Advisors LLC boosted its stake in ONEOK by 66.9% in the fourth quarter. MONECO Advisors LLC now owns 6,160 shares of the utilities provider’s stock valued at $433,000 after acquiring an additional 2,469 shares during the last quarter. Wellington Management Group LLP grew its position in shares of ONEOK by 2,643.5% during the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after acquiring an additional 1,128,066 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of ONEOK during the 4th quarter worth approximately $696,000. Finally, ARK & TLK Investments LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $244,000. 68.87% of the stock is currently owned by institutional investors.

About ONEOK

(Get Free Report)

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.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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