Research analysts at Deutsche Bank initiated coverage on shares of ONEOK (NYSE:OKE) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “hold” rating on the utilities provider’s stock.
Other research analysts also recently issued reports about the stock. JPMorgan Chase boosted their price objective on shares of ONEOK from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a research report on Tuesday, April 10th. Zacks Investment Research downgraded shares of ONEOK from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Seaport Global Securities assumed coverage on shares of ONEOK in a research report on Tuesday. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Barclays lowered their price objective on shares of ONEOK from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $61.07.
OKE traded down $0.09 during trading on Thursday, hitting $59.74. 1,867,949 shares of the stock traded hands, compared to its average volume of 3,039,877. ONEOK has a twelve month low of $47.14 and a twelve month high of $61.36. The company has a market cap of $24,502.54, a P/E ratio of 33.94, a P/E/G ratio of 2.46 and a beta of 1.22. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.66 and a quick ratio of 0.50.
In related news, VP Sheppard F. Miers III sold 2,200 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $56.70, for a total value of $124,740.00. Following the sale, the vice president now owns 31,244 shares of the company’s stock, valued at $1,771,534.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eduardo A. Rodriguez sold 2,100 shares of the business’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $56.94, for a total transaction of $119,574.00. Following the completion of the sale, the director now directly owns 16,025 shares in the company, valued at approximately $912,463.50. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of OKE. Delpha Capital Management LLC bought a new stake in shares of ONEOK in the fourth quarter worth $134,000. Tower Research Capital LLC TRC grew its stake in shares of ONEOK by 562.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 2,322 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of ONEOK in the third quarter worth $169,000. Wealthsource Partners LLC bought a new stake in shares of ONEOK in the fourth quarter worth $203,000. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of ONEOK in the fourth quarter worth $205,000. 68.49% of the stock is currently owned by institutional investors.
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ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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