Wells Fargo & Company Has Lowered Expectations for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its target price dropped by equities research analysts at Wells Fargo & Company from $107.00 to $102.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.86% from the stock’s current price.

Other analysts also recently issued reports about the stock. Barclays began coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective on the stock. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank assumed coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.54.

ONEOK Price Performance

NYSE OKE opened at $94.56 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business’s fifty day moving average is $100.97 and its 200 day moving average is $99.04. The company has a market capitalization of $55.24 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK has a fifty-two week low of $73.39 and a fifty-two week high of $118.07.

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

Institutional Trading of ONEOK

A number of institutional investors have recently bought and sold shares of OKE. Kieckhefer Group LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $30,000. Greenline Partners LLC purchased a new position in ONEOK during the 4th quarter worth approximately $32,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK during the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the 4th quarter worth approximately $39,000. Finally, Canton Hathaway LLC acquired a new position in ONEOK during the fourth quarter worth $40,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.