Analysts Set ONEOK, Inc. (NYSE:OKE) Target Price at $81.73

Shares of ONEOK, Inc. (NYSE:OKEGet Free Report) have earned a consensus rating of “Hold” from the sixteen research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $81.73.

A number of equities analysts recently commented on OKE shares. Morgan Stanley raised their target price on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Barclays lifted their price target on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Truist Financial lifted their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st.

Read Our Latest Analysis on OKE

Insider Activity

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the purchase, the director now owns 2,700 shares in the company, valued at approximately $203,175. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On ONEOK

Several institutional investors have recently bought and sold shares of the business. ELCO Management Co. LLC boosted its stake in ONEOK by 102.3% in the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after acquiring an additional 13,367 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in ONEOK by 11.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock worth $490,000 after buying an additional 790 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in ONEOK by 15.9% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 698,627 shares of the utilities provider’s stock valued at $43,119,000 after buying an additional 95,725 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in ONEOK by 1.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider’s stock worth $2,460,000 after acquiring an additional 581 shares in the last quarter. Finally, Insight Folios Inc acquired a new stake in ONEOK in the third quarter worth about $4,998,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE opened at $80.17 on Friday. ONEOK has a 1 year low of $55.91 and a 1 year high of $80.53. The stock has a 50-day moving average price of $73.73 and a 200-day moving average price of $69.70. The firm has a market cap of $46.76 billion, a PE ratio of 14.45, a P/E/G ratio of 2.49 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67.

ONEOK (NYSE:OKEGet Free Report) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company posted $1.08 EPS. Sell-side analysts predict that ONEOK will post 4.63 earnings per share for the current fiscal year.

ONEOK declared that its Board of Directors has approved a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were issued a dividend of $0.99 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date was Monday, January 29th. This represents a $3.96 dividend on an annualized basis and a yield of 4.94%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for ONEOK (NYSE:OKE)

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