Jefferies analyst Christopher Sighinolfi downgraded Oneok (NYSE: OKE) to Hold today and set a price target of $77. The company’s shares closed yesterday at $70.33, close to its 52-week high of $71.99.
According to TipRanks.com, Sighinolfi is a 5-star analyst with an average return of 11.4% and a 68.0% success rate. Sighinolfi covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Energy Transfer Partners LP, and Dcp Midstream Partners Lp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oneok with a $74.17 average price target.
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Based on Oneok’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $265 million. In comparison, last year the company had a net profit of $71.69 million.
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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.
