ONEOK (NYSE:OKE) Sets New 12-Month High at $88.78

Shares of ONEOK, Inc. (NYSE:OKE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $88.78 and last traded at $88.78, with a volume of 1984 shares trading hands. The stock had previously closed at $88.07.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Wells Fargo & Company boosted their price objective on shares of ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Truist Financial boosted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.58.

ONEOK Stock Performance

The firm has a market cap of $52.00 billion, a PE ratio of 20.48, a PEG ratio of 4.42 and a beta of 1.65. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The firm’s 50 day simple moving average is $83.21 and its 200 day simple moving average is $79.85.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the company earned $1.04 EPS. On average, research analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is 92.09%.

Institutional Trading of ONEOK

Hedge funds have recently made changes to their positions in the business. Hilltop Holdings Inc. raised its position in ONEOK by 7.3% in the 4th quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 1,124 shares during the period. Kestra Private Wealth Services LLC raised its position in ONEOK by 26.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 5,167 shares during the period. TD Asset Management Inc raised its position in ONEOK by 11.6% in the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after purchasing an additional 21,657 shares during the period. Norden Group LLC raised its position in ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after purchasing an additional 131,441 shares during the period. Finally, Wellington Management Group LLP raised its position in ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares during the period. 69.13% of the stock is currently owned by hedge funds and other 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.