ONEOK, Inc. (NYSE:OKE) Receives Consensus Rating of “Moderate Buy” from Analysts

ONEOK, Inc. (NYSE:OKE) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $102.92.

Several equities analysts have recently issued reports on the stock. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company.

Institutional Trading of ONEOK

Several large investors have recently added to or reduced their stakes in OKE. Kieckhefer Group LLC bought a new stake in ONEOK in the fourth quarter worth $30,000. Matrix Trust Co bought a new position in shares of ONEOK in the third quarter valued at approximately $29,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. acquired a new position in ONEOK during the 3rd quarter worth $44,000. Finally, Fortitude Family Office LLC grew its position in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

Shares of NYSE:OKE opened at $100.38 on Thursday. The firm’s 50 day moving average is $105.51 and its two-hundred day moving average is $96.93. The firm has a market capitalization of $58.64 billion, a P/E ratio of 21.00, a PEG ratio of 4.03 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK has a 52 week low of $67.05 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the firm posted $0.99 earnings per share. Analysts anticipate that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 82.85%.

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.