ONEOK (NYSE:OKE) Rating Reaffirmed
In a note issued to clients and investors this morning, Barclays has restated their Equal Weight rating on ONEOK (NYSE:OKE) shares. The PT means a possible upside of 29.12% from company’s current price.
From a total of 14 analysts covering ONEOK (NYSE:OKE) stock, 4 rate it a ”Buy”, 3 a “Sell”, and 9 a ”Hold”. This means that 25% of the ratings are positive. The highest target price is $48 while the lowest target price is $26. The mean of all analyst targets is $37.93 with a 94.50% above today’s ($20.91) stock price. ONEOK was the topic of 8 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Citigroup upgraded shares on September 15 to “Buy” rating.
Approximately 1.71M shares of stock traded hands. ONEOK, Inc. (NYSE:OKE) has declined 52.06% since May 13, 2015 and is downtrending. It has underperformed by 49.43% the S&P500.
The overall sentiment of institutions has decreased to 0.75 in Q2 2015. Its down 0.13, from 0.88 in 2015Q2. The ratio dropped, as 79 institutions have sold all the shares of ONEOK, Inc. that they owned while 161 funds have taken shares off the table. 41 funds have purchased shares for the first time while 139 added to their positions. These institutions now hold 130.01 million shares or 13.13% less than the 149.67 million shares they owned in 2015Q2.
The Fund Salient Capital Advisors Llc currently is holding shares equating to 3.62% of its total portfolio in ONEOK, Inc. representing a total of 4.63 million shares. Another fund,Sasco Capital Inc Ct, is holding a total of 4.99 million shares equating to 3.48% of their holdings. Additionally, Eagle Global Advisors Llc has a 3.15 million share stake in ONEOK, Inc. which represents 3.36% of their total portfolio. The Fund, Marque Millennium Capital Management Lcc, based out of New York, has also built up a stake in the stock, which represents a total of 1.52% of their total portfolio. Finally Trust Investment Advisors, a fund which is based in the state of Indiana reported a total holdings of 40,075 shares.
ONEOK, Inc. is the sole general partner of ONEOK Partners, L.P. , a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The company has a market cap of $4.45 billion. The Firm operates through three divisions: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines. It has 13.87 P/E ratio. The Natural Gas Gathering and Processing segment provides nondiscretionary services to producers, including gathering and processing of natural gas produced from natural gas and crude oil wells.
According to Zacks Investment Research, “ONEOK, Inc. is engaged in several aspects of the energy business. The company purchases, gathers, compresses, transports, stores, and distributes natural gas. It also leases pipeline capacity to others. The company drills for and produces oil and gas, extracts and sells natural gas liquids, and is engaged in the gas marketing business.”