ONEOK (NYSE:OKE) Given New $97.00 Price Target at JPMorgan Chase & Co.

ONEOK (NYSE:OKE) had its price objective hoisted by JPMorgan Chase & Co. from $94.00 to $97.00 in a research note released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the utilities provider’s stock.

OKE has been the topic of a number of other research reports. Scotiabank cut their price objective on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Stifel Nicolaus cut their price objective on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley increased their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Citigroup dropped their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $104.08.

ONEOK Trading Down 0.5%

NYSE OKE opened at $81.73 on Thursday. The company has a fifty day simple moving average of $82.36 and a two-hundred day simple moving average of $91.68. The stock has a market cap of $51.45 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.61 and a beta of 0.93. ONEOK has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same quarter in the previous year, the company earned $1.09 EPS. On average, analysts forecast that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.04%. ONEOK’s dividend payout ratio (DPR) is 80.47%.

Institutional Trading of ONEOK

Institutional investors have recently modified their holdings of the stock. Greenline Partners LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at about $32,000. First Pacific Financial acquired a new stake in shares of ONEOK in the first quarter valued at about $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK in the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK in the fourth quarter worth about $39,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after buying an additional 370 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

About ONEOK

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.