ONEOK (NYSE:OKE) Stock Price Up 1.3%

ONEOK, Inc. (NYSE:OKE)’s share price shot up 1.3% during trading on Monday . The stock traded as high as $80.96 and last traded at $80.92. 260,847 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,849,241 shares. The stock had previously closed at $79.88.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Citigroup lifted their target price on shares of ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Truist Financial increased their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Finally, Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, ONEOK has a consensus rating of “Hold” and a consensus target price of $84.25.

ONEOK Stock Performance

The stock’s fifty day moving average is $79.86 and its two-hundred day moving average is $75.39. The firm has a market capitalization of $47.37 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period last year, the business earned $2.34 EPS. Analysts forecast that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.88%. ONEOK’s payout ratio is currently 92.09%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. acquired a new position in shares of ONEOK in the 3rd quarter worth approximately $469,000. FMR LLC increased its position in shares of ONEOK by 7.9% in the third quarter. FMR LLC now owns 549,701 shares of the utilities provider’s stock worth $34,867,000 after acquiring an additional 40,408 shares in the last quarter. Federated Hermes Inc. increased its position in shares of ONEOK by 162.1% in the third quarter. Federated Hermes Inc. now owns 122,036 shares of the utilities provider’s stock worth $7,741,000 after acquiring an additional 75,472 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of ONEOK by 11.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 790 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of ONEOK by 138.5% in the third quarter. Covestor Ltd now owns 1,791 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 1,040 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.