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

Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $103.92.

Several research firms have recently issued reports on OKE. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Barclays initiated coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock.

ONEOK Stock Performance

NYSE:OKE opened at $97.96 on Monday. ONEOK has a 1 year low of $69.01 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a fifty day simple moving average of $101.79 and a two-hundred day simple moving average of $98.16. The company has a market capitalization of $57.23 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.21%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. grew its holdings in ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the last quarter. McAdam LLC grew its stake in shares of ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC increased its holdings in ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 100 shares during the period. Mutual Advisors LLC raised its position in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA lifted its holdings in ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the period. Institutional investors own 69.13% of the company’s stock.

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.