ONEOK, Inc. (NYSE:OKE) Receives Average Rating of “Moderate Buy” from Analysts

ONEOK, Inc. (NYSE:OKE) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $102.92.

A number of analysts have recently weighed in on the company. Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. 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 report on Wednesday, October 16th. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter worth about $30,000. Matrix Trust Co acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $29,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter worth about $37,000. Values First Advisors Inc. acquired a new stake in ONEOK during the third quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC boosted its stake in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

OKE stock opened at $106.28 on Thursday. The company’s fifty day moving average price is $106.21 and its 200-day moving average price is $96.21. ONEOK has a one year low of $67.05 and a one year high of $118.07. The company has a market capitalization of $62.09 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 82.85%.

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.