ONEOK (NYSE:OKE) Given New $85.00 Price Target at Mizuho

ONEOK (NYSE:OKE) had its price target lifted by Mizuho from $81.00 to $85.00 in a research note published on Friday, Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

OKE has been the subject of several other reports. Wells Fargo & Company raised their price target on ONEOK from $81.00 to $85.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the company an overweight rating in a research report on Wednesday, June 26th. Tudor Pickering raised shares of ONEOK to a hold rating in a research report on Thursday, July 18th. Morgan Stanley raised their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an equal weight rating in a research note on Monday, June 10th. Finally, StockNews.com raised shares of ONEOK from a sell rating to a hold rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $84.83.

ONEOK Stock Performance

Shares of ONEOK stock opened at $82.02 on Friday. The business’s fifty day simple moving average is $81.39 and its 200-day simple moving average is $77.60. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a market cap of $47.87 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 4.31 and a beta of 1.65. ONEOK has a 52 week low of $60.58 and a 52 week high of $86.20.

ONEOK (NYSE:OKE) last announced its earnings results 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 quarter last year, the firm posted $2.34 earnings per share. Equities analysts forecast that ONEOK will post 5.01 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a $0.99 dividend. The ex-dividend date is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.83%. ONEOK’s payout ratio is currently 92.09%.

Institutional Investors Weigh In On ONEOK

Several institutional investors have recently added to or reduced their stakes in OKE. Schechter Investment Advisors LLC boosted its holdings in shares of ONEOK by 5.6% in the 4th quarter. Schechter Investment Advisors LLC now owns 8,179 shares of the utilities provider’s stock valued at $574,000 after buying an additional 437 shares in the last quarter. IFG Advisory LLC acquired a new position in ONEOK in the fourth quarter valued at $306,000. WASHINGTON TRUST Co grew its holdings in shares of ONEOK by 29.8% during the fourth quarter. WASHINGTON TRUST Co now owns 2,596 shares of the utilities provider’s stock worth $182,000 after purchasing an additional 596 shares during the last quarter. Blue Trust Inc. increased its position in shares of ONEOK by 400.2% during the fourth quarter. Blue Trust Inc. now owns 2,166 shares of the utilities provider’s stock worth $152,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Symphony Financial Ltd. Co. lifted its holdings in shares of ONEOK by 148.9% in the 4th quarter. Symphony Financial Ltd. Co. now owns 9,858 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 5,898 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

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.