ONEOK (NYSE:OKE) Price Target Lowered to $110.00 at Morgan Stanley

ONEOK (NYSE:OKE) had its target price lowered by equities researchers at Morgan Stanley from $122.00 to $110.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 49.68% from the stock’s current price.

OKE has been the subject of several other reports. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Royal Bank Of Canada dropped their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Wednesday, August 13th. Finally, Barclays set a $83.00 price target on shares of ONEOK in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $101.93.

ONEOK Trading Down 1.3%

Shares of ONEOK stock traded down $0.94 during trading on Tuesday, hitting $73.49. The stock had a trading volume of 432,285 shares, compared to its average volume of 3,904,181. The firm’s fifty day simple moving average is $79.18 and its 200-day simple moving average is $85.50. The stock has a market cap of $46.28 billion, a PE ratio of 14.32, a PEG ratio of 1.77 and a beta of 0.99. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK has a 12 month low of $72.18 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts expect that ONEOK will post 5.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MASTERINVEST Kapitalanlage GmbH purchased a new stake in ONEOK in the 2nd quarter valued at about $230,000. Silverlake Wealth Management LLC boosted its holdings in ONEOK by 1.5% in the 2nd quarter. Silverlake Wealth Management LLC now owns 22,818 shares of the utilities provider’s stock worth $1,863,000 after acquiring an additional 338 shares during the period. Fulcrum Equity Management boosted its holdings in ONEOK by 3.4% in the 2nd quarter. Fulcrum Equity Management now owns 49,213 shares of the utilities provider’s stock worth $4,017,000 after acquiring an additional 1,614 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of ONEOK by 0.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 59,855 shares of the utilities provider’s stock valued at $4,886,000 after buying an additional 319 shares during the last quarter. Finally, Monarch Capital Management Inc. boosted its stake in shares of ONEOK by 14.9% during the 2nd quarter. Monarch Capital Management Inc. now owns 16,691 shares of the utilities provider’s stock valued at $1,362,000 after buying an additional 2,160 shares during the last quarter. Institutional investors and hedge funds 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.