ONEOK (NYSE:OKE) Given New $102.00 Price Target at Wells Fargo & Company

ONEOK (NYSE:OKE) had its price objective cut by equities researchers at Wells Fargo & Company from $107.00 to $102.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.86% from the company’s current price.

A number of other brokerages also recently weighed in on OKE. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.54.

ONEOK Price Performance

Shares of NYSE OKE opened at $94.56 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average price is $100.97 and its 200-day moving average price is $99.04. The firm has a market capitalization of $55.24 billion, a P/E ratio of 19.89, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK has a 1-year low of $73.39 and a 1-year high of $118.07.

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

Hedge Funds Weigh In On ONEOK

Several hedge funds and other institutional investors have recently modified their holdings of OKE. Heck Capital Advisors LLC bought a new stake in ONEOK during the 4th quarter valued at approximately $1,286,000. Wilkins Miller Wealth Management LLC purchased a new position in shares of ONEOK in the 4th quarter valued at approximately $223,000. Ameriflex Group Inc. purchased a new stake in ONEOK in the fourth quarter worth $83,000. Sunbeam Capital Management LLC purchased a new position in ONEOK during the fourth quarter valued at $329,000. Finally, Challenger Wealth Management bought a new position in shares of ONEOK in the 4th quarter worth about $838,000. Hedge funds and other institutional investors 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.