ONEOK, Inc. (NYSE:OKE) Receives $82.25 Average Price Target from Analysts

ONEOK, Inc. (NYSE:OKE) has received an average rating of “Hold” from the seventeen brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $82.25.

A number of research analysts have weighed in on the company. Mizuho increased their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th.

ONEOK Price Performance

ONEOK stock opened at $81.38 on Tuesday. The business has a 50-day moving average of $77.60 and a 200-day moving average of $71.54. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK has a 1 year low of $55.91 and a 1 year high of $81.81. The firm has a market capitalization of $47.50 billion, a P/E ratio of 14.66, a PEG ratio of 4.91 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the business earned $1.08 EPS. On average, equities analysts anticipate that ONEOK will post 4.99 EPS for the current year.

ONEOK declared that its board has approved a share repurchase plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.87%. ONEOK’s dividend payout ratio is presently 71.35%.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought 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 directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

A number of institutional investors have recently added to or reduced their stakes in OKE. Checchi Capital Advisers LLC grew its holdings in ONEOK by 11.6% in the first quarter. Checchi Capital Advisers LLC now owns 8,804 shares of the utilities provider’s stock valued at $706,000 after purchasing an additional 913 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new stake in ONEOK in the first quarter valued at approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ONEOK by 140.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,553 shares of the utilities provider’s stock valued at $20,167,000 after acquiring an additional 146,994 shares during the period. Aaron Wealth Advisors LLC acquired a new position in shares of ONEOK in the 1st quarter valued at about $265,000. Finally, Valeo Financial Advisors LLC increased its position in shares of ONEOK by 2.6% in the first quarter. Valeo Financial Advisors LLC now owns 6,867 shares of the utilities provider’s stock worth $556,000 after acquiring an additional 171 shares in the last quarter. 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.