ONEOK (NYSE:OKE) Price Target Raised to $107.00 at Wells Fargo & Company

ONEOK (NYSE:OKE) had its price target lifted by equities researchers at Wells Fargo & Company from $100.00 to $107.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 14.60% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Citigroup increased their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Barclays upped their price target on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada lifted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $96.54.

ONEOK Trading Down 3.6 %

ONEOK stock traded down $3.51 during midday trading on Friday, hitting $93.37. 1,274,575 shares of the stock were exchanged, compared to its average volume of 2,728,041. The company has a current ratio of 0.81, a quick ratio of 0.41 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $54.53 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 4.20 and a beta of 1.67. The stock’s 50-day simple moving average is $93.56 and its 200 day simple moving average is $85.72. ONEOK has a fifty-two week low of $63.33 and a fifty-two week high of $98.43.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company earned $0.99 EPS. On average, equities analysts anticipate that ONEOK will post 5.04 EPS for the current year.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

Institutional investors and hedge funds have recently bought and sold shares of the business. HM Payson & Co. boosted its stake in ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the period. QRG Capital Management Inc. increased its position in ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the period. Johnson Investment Counsel Inc. boosted its position in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares during the period. Brighton Jones LLC raised its stake in shares of ONEOK by 1.1% during the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after purchasing an additional 122 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its holdings in ONEOK by 1.4% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

About ONEOK

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.