ONEOK (NYSE:OKE) Price Target Raised to $132.00

ONEOK (NYSE:OKE) had its price objective hoisted by UBS Group from $112.00 to $132.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Several other research analysts also recently commented on OKE. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial upped their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Price Performance

NYSE:OKE traded up $1.93 during trading hours on Friday, hitting $109.81. The stock had a trading volume of 3,500,516 shares, compared to its average volume of 2,766,329. The firm has a market capitalization of $64.15 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 5.40 and a beta of 1.66. ONEOK has a one year low of $64.68 and a one year high of $110.05. The company has a 50 day simple moving average of $96.54 and a two-hundred day simple moving average of $87.58. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business earned $0.99 EPS. Research analysts forecast that ONEOK will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of ONEOK during the second quarter valued at approximately $28,000. Matrix Trust Co bought a new position in ONEOK during the 3rd quarter valued at approximately $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter valued at $31,000. Access Investment Management LLC bought a new stake in ONEOK in the third quarter worth $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter worth $44,000. 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.