ONEOK, Inc. (NYSE:OKE) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $103.31.

OKE has been the subject of several recent research reports. Truist Financial increased 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Scotiabank dropped their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th.

ONEOK Trading Down 0.5 %

NYSE OKE opened at $97.95 on Friday. The firm has a market capitalization of $61.15 billion, a price-to-earnings ratio of 20.49, a PEG 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 has a one year low of $76.23 and a one year high of $118.07. The company’s 50 day moving average price is $99.08 and its 200 day moving average price is $99.74.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating 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 business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, sell-side analysts predict that ONEOK will post 5.07 EPS for the current 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 given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

Hedge Funds Weigh In On ONEOK

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of ONEOK by 10.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 240,665 shares of the utilities provider’s stock valued at $24,163,000 after purchasing an additional 22,121 shares during the last quarter. Northstar Financial Companies Inc. bought a new position in ONEOK during the 4th quarter worth $598,000. Centaurus Financial Inc. acquired a new stake in ONEOK in the fourth quarter worth $227,000. Total Wealth Planning & Management Inc. bought a new stake in ONEOK in the fourth quarter valued at $213,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ONEOK during the fourth quarter valued at $61,240,000. Institutional investors own 69.13% of the company’s stock.

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.