OKE – Stock Analysis & News (2024-03-21)

Oneok, Inc. stock (OKE) has been in the spotlight recently with several key developments impacting its price. The current price of OKE is 66.6, with a weekly forecast of -1.6% and a monthly forecast of +5.0%.

Stock AI forecasts
Weekly: 🔴 -1.6%
Monthly: 🟢 +5.0%

Recent news has seen a number of firms modifying their ratings and price targets on OKE shares. Analysts at UBS Group AG raised the price target on OKE from $80.00. Additionally, director Wayne Thomas Smith purchased 2,700 shares of OKE stock. Vanguard Group Inc. increased its stake in OKE by 10.3% in the third quarter.

Creative Planning also increased its position in OKE by 34.9% during the same period. StockNews.com upgraded OKE from a “sell” rating to a “hold” rating, while Wesbanco Bank Inc. and Sunbelt Securities Inc. both increased their positions in OKE by 6.2% and 31.4%, respectively.

On the other hand, Prudential PLC decreased its holdings in OKE by 11.4%, while Korea Investment CORP trimmed its position by 8.0% in the third quarter. Cornerstone Wealth Management LLC and O Shaughnessy Asset Management LLC also adjusted their holdings in OKE during the same period.

Barclays raised the price target on OKE from $73.00 to $80.00, while Citigroup increased their price target from $73.00 to $83.00. Mizuho reiterated their neutral rating on OKE shares, with a price target of $75.00. OKE issued an update on its FY 2024 earnings guidance, providing an EPS range of 4.450-5.140.

The recent news surrounding OKE stock has had a mixed impact on its price expectations. The positive developments, such as the price target upgrades and increased stake by Vanguard Group Inc., have bolstered investor confidence in OKE’s potential for growth. On the other hand, the decrease in holdings by Prudential PLC and Korea Investment CORP may have raised some concerns among investors.

Overall, the outlook for OKE stock remains positive, with the monthly forecast indicating a potential increase of +5.0%. Investors will be closely monitoring any further developments and announcements regarding OKE to gauge the stock’s performance in the coming weeks.

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