Truist slashes price target on ONEOK Inc. [OKE] – find out why.

ONEOK Inc. [NYSE: OKE] gained 2.02% on the last trading session, reaching $66.11 price per share at the time. The company report on August 10, 2022 that ONEOK to Participate in Upcoming Investor Conferences.

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ONEOK, Inc. (NYSE: OKE) will participate in the following investor conferences in August 2022:.

Aug. 11: Goldman Sachs Power, Utilities, MLPs and Pipelines Conference.

ONEOK Inc. represents 447.45 million in outstanding shares, while the company has a total market value of $29.70 billion with the latest information. OKE stock price has been found in the range of $64.66 to $66.28.

If compared to the average trading volume of 2.73M shares, OKE reached a trading volume of 2438420 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ONEOK Inc. [OKE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OKE shares is $69.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OKE stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for ONEOK Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 02, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $58 to $68. The new note on the price target was released on January 14, 2022, representing the official price target for ONEOK Inc. stock. On December 16, 2021, analysts decreased their price target for OKE shares from 72 to 66.

The Average True Range (ATR) for ONEOK Inc. is set at 1.51, with the Price to Sales ratio for OKE stock in the period of the last 12 months amounting to 1.39. The Price to Book ratio for the last quarter was 4.84, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for OKE in the course of the last twelve months was 255.63 with Quick ratio for the last quarter at 0.60.

Trading performance analysis for OKE stock

ONEOK Inc. [OKE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.00. With this latest performance, OKE shares gained by 10.11% in over the last four-week period, additionally plugging by 8.77% over the last 6 months – not to mention a rise of 24.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OKE stock in for the last two-week period is set at 68.67, with the RSI for the last a single of trading hit 73.32, and the three-weeks RSI is set at 63.87 for ONEOK Inc. [OKE]. The present Moving Average for the last 50 days of trading for this stock 58.70, while it was recorded at 64.53 for the last single week of trading, and 62.85 for the last 200 days.

ONEOK Inc. [OKE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ONEOK Inc. [OKE] shares currently have an operating margin of +16.52 and a Gross Margin at +17.48. ONEOK Inc.’s Net Margin is presently recorded at +8.68.

Return on Equity for this stock inclined to 24.88, with Return on Assets sitting at 6.42.

ONEOK Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.

ONEOK Inc. [OKE]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OKE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ONEOK Inc. go to 10.87%.

An analysis of insider ownership at ONEOK Inc. [OKE]

There are presently around $19,955 million, or 68.60% of OKE stock, in the hands of institutional investors. The top three institutional holders of OKE stocks are: VANGUARD GROUP INC with ownership of 52,764,196, which is approximately 1.911% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 46,325,334 shares of the stock with an approximate value of $3.06 billion in OKE stocks shares; and STATE STREET CORP, currently with $2.19 billion in OKE stock with ownership of nearly 1.033% of the company’s market capitalization.

Positions in ONEOK Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 500 institutional holders increased their position in ONEOK Inc. [NYSE:OKE] by around 20,292,703 shares. Additionally, 422 investors decreased positions by around 13,471,752 shares, while 178 investors held positions by with 268,085,559 shares. The mentioned changes placed institutional holdings at 301,850,014 shares, according to the latest SEC report filing. OKE stock had 92 new institutional investments in for a total of 3,588,322 shares, while 112 institutional investors sold positions of 3,403,699 shares during the same period.


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