ONEOK (NYSE:OKE) Raised to “Strong-Buy” at US Capital Advisors

US Capital Advisors upgraded shares of ONEOK (NYSE:OKE) from a moderate buy rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $4.84 EPS, Q1 2025 earnings at $1.38 EPS and Q2 2025 earnings at $1.30 EPS.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Trading Down 0.6 %

NYSE OKE opened at $97.03 on Monday. The company’s 50-day moving average price is $104.24 and its 200-day moving average price is $97.33. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $56.68 billion, a PE ratio of 20.30, a PEG ratio of 3.69 and a beta of 1.70. ONEOK has a 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.25%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio is presently 82.85%.

Institutional Trading of ONEOK

Several hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after acquiring an additional 138,430 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after acquiring an additional 11,189 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after acquiring an additional 277,514 shares in the last quarter. 69.13% of the stock is 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.