In a report released yesterday, Elvira Scotto from RBC Capital maintained a Hold rating on Oneok (OKE – Research Report), with a price target of $78.00. The company’s shares closed yesterday at $79.91.
According to TipRanks, Scotto is a top 100 analyst with an average return of 18.0% and a 64.42% success rate. Scotto covers the Energy sector, focusing on stocks such as Archrock, Cheniere Energy, and Cheniere Energy Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oneok with a $82.67 average price target, a 3.45% upside from current levels. In a report released on April 15, Barclays also maintained a Hold rating on the stock with a $80.00 price target.
Based on Oneok’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.19 billion and a net profit of $453 million. In comparison, last year the company earned a revenue of $5.91 billion and had a net profit of $431 million
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OKE in relation to earlier this year.
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Oneok (OKE) Company Description:
ONEOK, Inc. engages in gathering, processing, fractionating, transporting, storing, and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute NGLs and store NGL products, primarily in Oklahoma, Kansas, Texas, New Mexico and the Rocky Mountain region, which includes the Williston, Powder River and DJ Basins, where it provides midstream services to producers of NGLs and deliver those products to the two primary market centers, one in the Mid-Continent in Conway, Kansas, and the other in the Gulf Coast in Mont Belvieu, Texas. The Natural Gas Pipelines segment provides transportation and storage services to end users. The company was founded in 1906 and is headquartered in Tulsa, OK.
