ONEOK (NYSE:OKE) Price Target Raised to $92.00 at JPMorgan Chase & Co.

ONEOK (NYSE:OKE) had its target price hoisted by JPMorgan Chase & Co. from $89.00 to $92.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other equities analysts also recently issued reports on the stock. US Capital Advisors downgraded shares of ONEOK from an overweight rating to a hold rating in a report on Wednesday, March 20th. Stifel Nicolaus raised their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Barclays boosted their price objective on ONEOK from $73.00 to $80.00 and gave the stock an equal weight rating in a research report on Thursday, March 7th. Mizuho raised their target price on ONEOK from $75.00 to $81.00 and gave the company a neutral rating in a research report on Wednesday, March 20th. Finally, StockNews.com upgraded ONEOK from a sell rating to a hold rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $84.50.

ONEOK Trading Down 0.6 %

ONEOK stock opened at $80.53 on Wednesday. ONEOK has a 1 year low of $58.51 and a 1 year high of $83.31. The firm’s 50-day moving average is $80.00 and its 200-day moving average is $75.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The company has a market cap of $47.00 billion, a P/E ratio of 18.73, a PEG ratio of 4.34 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the firm posted $2.34 earnings per share. On average, equities analysts expect that ONEOK will post 4.94 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued 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 4.92%. ONEOK’s payout ratio is currently 92.09%.

Institutional Trading of ONEOK

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after acquiring an additional 5,525,010 shares during the last quarter. Deutsche Bank AG boosted its position in shares of ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 21.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after purchasing an additional 2,153,295 shares during the period. Morgan Stanley boosted its position in shares of ONEOK by 20.3% in the 3rd quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after purchasing an additional 1,458,392 shares during the period. Finally, Northern Trust Corp boosted its position in shares of ONEOK by 1.5% in the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after purchasing an additional 85,736 shares during the period. 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.