Barclays Cuts ONEOK (NYSE:OKE) Price Target to $88.00

ONEOK (NYSE:OKE) had its price objective reduced by investment analysts at Barclays from $90.00 to $88.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential downside of 3.00% from the company’s previous close.

OKE has been the topic of a number of other research reports. Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Citigroup upped their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised their price objective on shares of ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a report on Thursday, March 19th. Truist Financial upped their target price on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus target price of $91.75.

ONEOK Trading Up 3.8%

Shares of NYSE OKE opened at $90.73 on Wednesday. The company’s fifty day moving average is $88.66 and its 200-day moving average is $84.33. The stock has a market cap of $57.17 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 6.54 and a beta of 0.73. ONEOK has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter in the prior year, the company earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts predict that ONEOK will post 5.72 EPS for the current year.

Hedge Funds Weigh In On ONEOK

A number of large investors have recently modified their holdings of the business. Capital International Investors acquired a new stake in ONEOK in the 4th quarter valued at about $586,500,000. Norges Bank acquired a new stake in shares of ONEOK in the fourth quarter valued at approximately $564,867,000. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after acquiring an additional 3,596,089 shares during the period. Danske Bank A S raised its stake in ONEOK by 3,538.4% in the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock valued at $124,320,000 after acquiring an additional 1,644,945 shares during the period. Finally, Man Group plc lifted its holdings in ONEOK by 292.1% during the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after purchasing an additional 1,161,352 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.