Morgan Stanley Issues Positive Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its price target lifted by analysts at Morgan Stanley from $111.00 to $133.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 29.96% from the company’s previous close.

Several other brokerages also recently issued reports on OKE. Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Trading Up 3.0 %

NYSE:OKE opened at $102.34 on Tuesday. ONEOK has a one year low of $76.23 and a one year high of $118.07. The company’s 50-day simple moving average is $98.91 and its 200 day simple moving average is $99.99. The firm has a market capitalization of $63.89 billion, a P/E ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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

Institutional Investors Weigh In On ONEOK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the fourth quarter worth $30,000. Greenline Partners LLC bought a new stake in ONEOK during the fourth quarter valued at about $32,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK in the fourth quarter worth about $39,000. Finally, Canton Hathaway LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $40,000. Institutional investors own 69.13% of the company’s stock.

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.