ValuEngine lowered shares of ONEOK (NYSE:OKE) from a hold rating to a sell rating in a report published on Saturday, ValuEngine reports.

A number of other brokerages have also weighed in on OKE. Tudor Pickering lowered shares of ONEOK from a buy rating to a hold rating and set a $34.00 price target on the stock. in a report on Monday, April 20th. Bank of America lowered shares of ONEOK from a buy rating to a neutral rating and set a $42.00 price target on the stock. in a report on Thursday, June 11th. Jefferies Financial Group downgraded shares of ONEOK from a buy rating to a hold rating and set a $32.00 target price on the stock. in a research note on Thursday, April 30th. Edward Jones raised shares of ONEOK from a hold rating to a buy rating in a research note on Monday, March 2nd. Finally, Royal Bank of Canada downgraded shares of ONEOK from an outperform rating to a sector perform rating and cut their target price for the company from $43.00 to $32.00 in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $48.00.

Shares of OKE opened at $33.22 on Friday. The firm has a market cap of $14.12 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.84 and a beta of 2.21. The company’s fifty day moving average is $36.34 and its two-hundred day moving average is $50.31. ONEOK has a fifty-two week low of $12.16 and a fifty-two week high of $78.48. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 2.56.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.52 billion. ONEOK had a net margin of 8.40% and a return on equity of 21.11%. During the same quarter last year, the business earned $0.81 EPS. As a group, equities research analysts anticipate that ONEOK will post 2.79 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in ONEOK by 927.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 504,253 shares of the utilities provider’s stock worth $38,031,000 after buying an additional 455,165 shares during the period. WINTON GROUP Ltd bought a new stake in shares of ONEOK in the 1st quarter worth about $1,362,000. Belpointe Asset Management LLC increased its position in shares of ONEOK by 60.9% in the 4th quarter. Belpointe Asset Management LLC now owns 3,124 shares of the utilities provider’s stock worth $236,000 after purchasing an additional 1,183 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of ONEOK by 0.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,797 shares of the utilities provider’s stock worth $1,806,000 after purchasing an additional 734 shares during the last quarter. Finally, B. Riley Wealth Management Inc. bought a new stake in shares of ONEOK in the 4th quarter worth about $420,000. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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