ONEOK (NYSE:OKE) Upgraded by Argus to Buy Rating

ONEOK (NYSE:OKE) was upgraded by Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Finviz reports. The brokerage presently has a $79.00 target price on the utilities provider’s stock. Argus’ price objective would suggest a potential upside of 19.19% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Royal Bank Of Canada lowered their price objective on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Citigroup cut their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Scotiabank reduced their target price on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a report on Tuesday. Finally, Mizuho dropped their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

ONEOK Stock Performance

Shares of OKE stock opened at $66.28 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The firm has a market cap of $41.71 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.62 and a beta of 1.01. The firm’s 50 day moving average price is $71.24 and its 200-day moving average price is $77.42. ONEOK has a one year low of $64.02 and a one year high of $118.07.

ONEOK (NYSE:OKE) last announced its 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. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities research analysts predict that ONEOK will post 5.07 EPS for the current year.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen acquired 2,500 shares of the stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the transaction, the director owned 21,200 shares in the company, valued at $1,399,200. The trade was a 13.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On ONEOK

Hedge funds have recently added to or reduced their stakes in the stock. Arista Wealth Management LLC lifted its position in shares of ONEOK by 94.5% during the 3rd quarter. Arista Wealth Management LLC now owns 6,175 shares of the utilities provider’s stock worth $451,000 after buying an additional 3,000 shares during the last quarter. AlTi Global Inc. raised its stake in ONEOK by 8.2% during the 3rd quarter. AlTi Global Inc. now owns 2,951 shares of the utilities provider’s stock worth $215,000 after acquiring an additional 224 shares in the last quarter. ProShare Advisors LLC lifted its position in ONEOK by 0.9% in the third quarter. ProShare Advisors LLC now owns 199,827 shares of the utilities provider’s stock valued at $14,581,000 after acquiring an additional 1,808 shares during the last quarter. Midwest Financial Group LLC boosted its stake in ONEOK by 0.7% in the third quarter. Midwest Financial Group LLC now owns 33,725 shares of the utilities provider’s stock valued at $2,461,000 after acquiring an additional 220 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of ONEOK by 1.2% during the third quarter. Linden Thomas Advisory Services LLC now owns 26,118 shares of the utilities provider’s stock worth $1,906,000 after purchasing an additional 305 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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.