Jefferies Keeps a Hold Rating on Oneok

By Carrie Williams

In a report released yesterday, Brad Handler from Jefferies reiterated a Hold rating on Oneok (NYSE: OKE), with a price target of $51. The company’s shares closed yesterday at $50.97.

According to TipRanks.com, Handler is ranked 0 out of 5 stars with an average return of -9.4% and a 32.7% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Basic Energy Services.

Oneok has an analyst consensus of Moderate Buy, with a price target consensus of $56.60.

Based on Oneok’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.76 billion and quarterly net profit of $87.36 million. In comparison, last year the company earned revenue of $1.76 billion and had a net profit of $83.45 million.

Based on the recent corporate insider activity of 13 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, and transporting 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 contracted producers. The Natural Gas Liquids segment includes owning and operating facilities that gather, fractionate, treat, and distribute products. The Natural Gas Pipelines segment involves in providing transportation and storage services to end users through ONEOK Partners. The company was founded in 1906 and is headquartered in Tulsa, OK.