Analysts at Mitsubishi UFJ Financial Group began coverage on shares of ONEOK (NYSE:OKE) in a research note issued to investors on Wednesday, June 5th, Marketbeat Ratings reports. The firm set a “neutral” rating and a $74.00 price target on the utilities provider’s stock. Mitsubishi UFJ Financial Group’s target price suggests a potential upside of 7.54% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. UBS Group increased their price target on ONEOK from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Mizuho set a $73.00 price objective on ONEOK and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Evercore ISI began coverage on ONEOK in a research report on Tuesday, February 5th. They set a $68.00 price objective for the company. Citigroup raised their price objective on ONEOK from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Seaport Global Securities lowered ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price objective for the company. in a research report on Monday, April 22nd. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and an average price target of $71.85.
OKE stock traded up $1.41 during trading hours on Wednesday, hitting $68.81. 2,426,145 shares of the stock traded hands, compared to its average volume of 2,398,218. The firm has a 50-day moving average of $66.17. ONEOK has a one year low of $50.26 and a one year high of $71.99. The firm has a market capitalization of $27.92 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.94 and a beta of 1.19. The company has a current ratio of 0.79, a quick ratio of 0.55 and a debt-to-equity ratio of 1.56.
Several hedge funds have recently modified their holdings of the stock. C J Advisory Inc bought a new position in ONEOK in the 1st quarter worth approximately $26,000. PRW Wealth Management LLC bought a new position in ONEOK in the 4th quarter worth approximately $27,000. Pinnacle Financial Partners Inc. bought a new position in ONEOK in the 1st quarter worth approximately $27,000. Buffington Mohr McNeal bought a new position in ONEOK in the 1st quarter worth approximately $28,000. Finally, Capital Financial Planning LLC bought a new position in ONEOK in the 4th quarter worth approximately $30,000. 74.95% of the stock is currently owned by institutional investors and hedge funds.
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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