ONEOK (NYSE:OKE) Now Covered by Analysts at Citigroup

Equities researchers at Citigroup started coverage on shares of ONEOK (NYSE:OKE) in a report released on Friday. The brokerage set a “buy” rating and a $110.00 price target on the utilities provider’s stock. Citigroup’s price target points to a potential upside of 11.30% from the company’s current price.

Several other equities analysts have also commented on the stock. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Barclays began coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Trading Up 2.3 %

OKE stock traded up $2.19 during mid-day trading on Friday, reaching $98.83. The company’s stock had a trading volume of 281,987 shares, compared to its average volume of 3,884,203. The company has a market cap of $57.74 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The business’s 50 day moving average price is $100.91 and its 200 day moving average price is $99.00. ONEOK has a 12 month low of $74.39 and a 12 month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. On average, equities research analysts predict that ONEOK will post 5.07 EPS for the current year.

Institutional Trading of ONEOK

A number of hedge funds have recently modified their holdings of the stock. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth $30,000. Greenline Partners LLC acquired a new position in shares of ONEOK during the fourth quarter valued at $32,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK in the 4th quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $39,000. Finally, Canton Hathaway LLC acquired a new position in ONEOK during the 4th 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.