Barclays Cuts ONEOK (NYSE:OKE) Price Target to $101.00

ONEOK (NYSE:OKE) had its price target cut by Barclays from $105.00 to $101.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other analysts have also commented on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company decreased their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Finally, Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Down 0.2 %

ONEOK stock opened at $89.59 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK has a 12-month low of $76.23 and a 12-month high of $118.07. The firm’s fifty day moving average is $100.00 and its 200 day moving average is $99.46. The company has a market capitalization of $55.93 billion, a PE ratio of 18.74, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, sell-side analysts predict that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.60%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

Hedge Funds Weigh In On ONEOK

Institutional investors have recently added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter valued at about $30,000. Greenline Partners LLC purchased a new stake in ONEOK during the fourth quarter valued at about $32,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK during the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK during the fourth quarter valued at about $39,000. Finally, Canton Hathaway LLC purchased a new stake in ONEOK during the fourth quarter valued at about $40,000. Institutional investors own 69.13% of the company’s stock.

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.