ONEOK (NYSE:OKE) Stock Rating Lowered by ValuEngine

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

Several other research firms also recently commented on OKE. Bank of America downgraded shares of ONEOK from a buy rating to a neutral rating and set a $42.00 target price for the company. in a research report on Thursday, June 11th. Morgan Stanley decreased their target price on shares of ONEOK from $29.00 to $27.00 and set an underweight rating for the company in a research report on Monday, June 15th. Zacks Investment Research downgraded shares of ONEOK from a hold rating to a sell rating and set a $30.00 target price for the company. in a research report on Monday, May 4th. UBS Group boosted their target price on shares of ONEOK from $34.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. downgraded shares of ONEOK from an overweight rating to a neutral rating and set a $37.00 target price for the company. in a research report on Friday, May 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $48.00.

Shares of OKE opened at $33.22 on Friday. The company’s 50 day moving average price is $36.34 and its 200 day moving average price is $50.31. ONEOK has a 52 week low of $12.16 and a 52 week high of $78.48. The company has a market capitalization of $14.12 billion, a PE ratio of 17.30, a PEG ratio of 1.84 and a beta of 2.21. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.01 and a current ratio of 1.36.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. ONEOK had a net margin of 8.40% and a return on equity of 21.11%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, equities analysts forecast that ONEOK will post 2.79 earnings per share for the current fiscal year.

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

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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