In a report released today, Michael Blum from Wells Fargo maintained a Buy rating on Oneok (NYSE: OKE), with a price target of $76. The company’s shares opened today at $65.92.
According to TipRanks.com, Blum is a 4-star analyst with an average return of 10.9% and a 57.1% success rate. Blum covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Dcp Midstream Partners Lp, and Spectra Energy Partners.
Oneok has an analyst consensus of Moderate Buy, with a price target consensus of $71.50, which is an 8.5% upside from current levels. In a report issued on October 19, Seaport Global also upgraded the stock to Buy with a $75 price target.
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Based on Oneok’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $313 million. In comparison, last year the company had a net profit of $166 million.
Based on the recent corporate insider activity of 29 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
ONEOK, Inc. engages in gathering, processing, fractionating, transporting, storing, and marketing of natural gas. It operates through the following business segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to contracted producers.
