Scotiabank Lowers ONEOK (NYSE:OKE) Price Target to $87.00

ONEOK (NYSE:OKE) had its price target dropped by investment analysts at Scotiabank from $88.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price target would indicate a potential upside of 35.25% from the company’s current price.

OKE has been the subject of several other reports. Morgan Stanley decreased their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Wells Fargo & Company decreased their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. TD Cowen decreased their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.80.

ONEOK Stock Performance

NYSE OKE traded down $1.04 on Tuesday, reaching $64.33. The stock had a trading volume of 1,332,308 shares, compared to its average volume of 3,897,658. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK has a 12-month low of $64.24 and a 12-month high of $118.07. The business’s 50-day moving average price is $71.62 and its 200 day moving average price is $77.65. The stock has a market cap of $40.48 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $9.17 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts expect that ONEOK will post 5.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Winnow Wealth LLC purchased a new position in shares of ONEOK in the third quarter valued at $28,000. City Holding Co. purchased a new position in shares of ONEOK in the third quarter valued at $28,000. Financial Network Wealth Advisors LLC increased its position in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after buying an additional 370 shares in the last quarter. Global Wealth Strategies & Associates purchased a new position in shares of ONEOK in the third quarter valued at $29,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of ONEOK in the first quarter valued at $40,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

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.