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

ONEOK, Inc. (NYSE:OKE) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $103.31.

Several equities analysts recently commented on the stock. Truist Financial increased their price objective 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. Wells Fargo & Company cut their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Finally, Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock.

ONEOK Trading Up 0.5 %

Shares of OKE opened at $93.40 on Friday. 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 has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a market cap of $58.31 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.77 and a beta of 1.70. The business’s fifty day moving average is $99.34 and its 200-day moving average is $99.43.

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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Equities analysts anticipate that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Hedge Funds Weigh In On ONEOK

Several hedge funds and other institutional investors have recently bought and sold shares of OKE. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter valued at about $30,000. Greenline Partners LLC bought a new stake in ONEOK in the fourth quarter worth approximately $32,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK in the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK during the 4th quarter worth approximately $39,000. Finally, Canton Hathaway LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds 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.