ONEOK (NYSE:OKE) Price Target Raised to $133.00 at Morgan Stanley

ONEOK (NYSE:OKE) had its price objective raised by Morgan Stanley from $111.00 to $133.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other research analysts also recently commented on OKE. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company cut their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Price Performance

OKE stock opened at $102.42 on Tuesday. The company has a market capitalization of $63.94 billion, a P/E ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. The company has a fifty day moving average price of $98.84 and a 200-day moving average price of $100.07. 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.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities analysts expect that ONEOK will post 5.07 EPS for the current 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 given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is currently 79.69%.

Institutional Investors Weigh In On ONEOK

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