ONEOK, Inc. (NYSE:OKE) Receives $101.00 Consensus Price Target from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $101.00.

Several research firms have recently weighed in on OKE. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th.

Institutional Trading of ONEOK

Hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors acquired a new stake in shares of ONEOK during the 2nd quarter valued at $228,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of ONEOK by 3.3% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 65,205 shares of the utilities provider’s stock worth $5,317,000 after purchasing an additional 2,105 shares during the last quarter. Signaturefd LLC increased its stake in shares of ONEOK by 8.0% in the second quarter. Signaturefd LLC now owns 7,610 shares of the utilities provider’s stock valued at $621,000 after buying an additional 565 shares during the period. Rothschild Investment LLC acquired a new position in shares of ONEOK in the second quarter valued at approximately $1,398,000. Finally, Concurrent Investment Advisors LLC raised its holdings in ONEOK by 64.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 62,820 shares of the utilities provider’s stock valued at $5,123,000 after buying an additional 24,586 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.4 %

Shares of NYSE OKE opened at $101.77 on Friday. ONEOK has a twelve month low of $67.05 and a twelve month high of $118.07. The stock has a market cap of $59.45 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 5.24 and a beta of 1.69. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company’s fifty day moving average is $104.86 and its 200-day moving average is $93.83.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Equities research analysts predict that ONEOK will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

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.