ONEOK (NYSE:OKE) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of ONEOK (NYSE:OKE) in a report issued on Tuesday, MarketBeat reports. The firm set a “hold” rating and a $80.00 price target on the utilities provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 6.22% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Thursday, November 6th. Scotiabank reiterated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a report on Friday. TD Cowen reduced 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. Barclays lowered their price target on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.60.

ONEOK Trading Up 2.7%

NYSE:OKE opened at $75.32 on Tuesday. ONEOK has a 12 month low of $64.02 and a 12 month high of $111.02. The company’s 50 day moving average is $72.55 and its 200-day moving average is $73.57. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm has a market cap of $47.39 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 4.15 and a beta of 0.94.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the prior year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts anticipate that ONEOK will post 5.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Brian L. Derksen purchased 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director owned 21,200 shares in the company, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

Hedge funds and other institutional investors have recently bought and sold shares of the business. City Holding Co. bought a new position in shares of ONEOK in the third quarter valued at approximately $28,000. Winnow Wealth LLC purchased a new position in ONEOK in the third quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new position in ONEOK in the third quarter valued at about $29,000. Financial Consulate Inc. bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $29,000. Finally, Access Investment Management LLC purchased a new stake in shares of ONEOK during the 2nd quarter worth approximately $33,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.