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

Shares of ONEOK, Inc. (NYSE:OKE) have received an average rating of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $92.38.

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada raised their target price on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd.

ONEOK Trading Down 5.9 %

NYSE:OKE opened at $89.14 on Friday. The company has a market cap of $52.06 billion, a PE ratio of 21.39, a P/E/G ratio of 4.71 and a beta of 1.67. The business’s 50 day moving average is $87.84 and its two-hundred day moving average is $82.83. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK has a 52 week low of $60.58 and a 52 week high of $96.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period last year, the business posted $1.04 earnings per share. On average, analysts predict that ONEOK will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. raised its position in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of ONEOK by 0.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 122 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 122 shares in the last quarter. Capital Wealth Planning LLC boosted its holdings in ONEOK by 4.3% during the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock worth $258,000 after buying an additional 131 shares in the last quarter. Finally, Aviso Wealth Management grew its position in ONEOK by 1.7% in the second quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock worth $637,000 after buying an additional 134 shares during the last quarter. 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.