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

ONEOK Inc. [NYSE: OKE] closed the trading session at $58.43 on 09/21/22. The day’s price range saw the stock hit a low of $58.42, while the highest price level was $60.7899. The company report on September 12, 2022 that Janet L. Hogan Joins ONEOK as Senior Vice President, Chief Human Resources Officer.

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Janet L. Hogan has joined ONEOK, Inc. (NYSE: OKE) as senior vice president, chief human resources officer, reporting to Pierce H. Norton II, president and chief executive officer of ONEOK.

Before joining ONEOK, Hogan was senior vice president, human resources, for Hormel Foods, a global, branded food company with 20,000 employees worldwide. In this role, Hogan led all strategies and initiatives for talent development, employee engagement and total employee rewards.

The stocks have a year to date performance of -0.56 percent and weekly performance of -7.90 percent. The stock has been moved at -14.45 percent over the last six months. The stock has performed -7.98 percent around the most recent 30 days and changed 8.57 percent over the most recent 3-months.

If compared to the average trading volume of 2.57M shares, OKE reached to a volume of 2861815 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $69.29 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 1.83, with the Price to Sales ratio for OKE stock in the period of the last 12 months amounting to 1.27. The Price to Book ratio for the last quarter was 4.27, with the Price to Cash per share for the same quarter was set at 0.29. Price to Free Cash Flow for OKE in the course of the last twelve months was 233.06 with Quick ratio for the last quarter at 0.60.

OKE stock trade performance evaluation

ONEOK Inc. [OKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.90. With this latest performance, OKE shares dropped by -7.98% in over the last four-week period, additionally sinking by -14.45% over the last 6 months – not to mention a rise of 9.60% 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 40.31, with the RSI for the last a single of trading hit 35.78, and the three-weeks RSI is set at 43.23 for ONEOK Inc. [OKE]. The present Moving Average for the last 50 days of trading for this stock 60.95, while it was recorded at 60.34 for the last single week of trading, and 62.78 for the last 200 days.

ONEOK Inc. [OKE]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for ONEOK Inc. [OKE] stock

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 10.64%.

ONEOK Inc. [OKE]: Insider Ownership positions

There are presently around $17,662 million, or 68.90% 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 0.30% of the total institutional ownership; BLACKROCK INC., holding 46,325,334 shares of the stock with an approximate value of $2.71 billion in OKE stocks shares; and STATE STREET CORP, currently with $1.94 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 502 institutional holders increased their position in ONEOK Inc. [NYSE:OKE] by around 20,694,432 shares. Additionally, 423 investors decreased positions by around 13,074,380 shares, while 178 investors held positions by with 268,506,495 shares. The mentioned changes placed institutional holdings at 302,275,307 shares, according to the latest SEC report filing. OKE stock had 91 new institutional investments in for a total of 3,580,704 shares, while 113 institutional investors sold positions of 3,396,940 shares during the same period.


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