Analysts Set ONEOK, Inc. (NYSE:OKE) Target Price at $103.31

ONEOK, Inc. (NYSE:OKE) has earned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $103.31.

A number of research firms have weighed in on OKE. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Barclays cut their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Finally, Wells Fargo & Company cut their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th.

ONEOK Trading Up 3.2 %

Shares of OKE opened at $96.52 on Friday. The company’s fifty day moving average is $99.21 and its 200 day moving average is $99.65. ONEOK has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The stock has a market capitalization of $60.26 billion, a PE ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70. 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 (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Sell-side analysts expect that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.27%. ONEOK’s dividend payout ratio is 79.69%.

Institutional Trading of ONEOK

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after acquiring an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares during the period. Geode Capital Management LLC lifted its stake in ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after acquiring an additional 357,015 shares during the period. Northern Trust Corp lifted its position in shares of ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after buying an additional 864,392 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of ONEOK during the fourth quarter valued at about $539,554,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

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.