ONEOK (NYSE:OKE) Shares Down 1.6%

Shares of ONEOK, Inc. (NYSE:OKEGet Free Report) were down 1.6% on Thursday . The company traded as low as $78.83 and last traded at $78.90. Approximately 582,242 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 2,827,671 shares. The stock had previously closed at $80.19.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OKE shares. Truist Financial increased their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Wells Fargo & Company increased their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Morgan Stanley increased their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.25.

Read Our Latest Stock Report on OKE

ONEOK Price Performance

The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm has a 50-day moving average of $79.83 and a 200-day moving average of $74.80. The stock has a market cap of $46.18 billion, a PE ratio of 18.34, a PEG ratio of 4.29 and a beta of 1.65.

ONEOK (NYSE:OKEGet Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the business posted $2.34 earnings per share. Research analysts predict that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 92.09%.

Hedge Funds Weigh In On ONEOK

Several institutional investors have recently added to or reduced their stakes in the company. Sheets Smith Wealth Management grew its holdings in ONEOK by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after buying an additional 139 shares in the last quarter. Venturi Wealth Management LLC raised its position in ONEOK by 5.3% during the 1st quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of ONEOK by 4.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 144 shares during the period. Presima Securities ULC increased its holdings in shares of ONEOK by 1.7% in the 4th quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock valued at $639,000 after acquiring an additional 150 shares during the period. Finally, Regal Investment Advisors LLC increased its holdings in shares of ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

(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.

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