ONEOK (NYSE:OKE) Coverage Initiated by Analysts at Barclays

Barclays began coverage on shares of ONEOK (NYSE:OKE) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $105.00 price objective on the utilities provider’s stock.

OKE has been the subject of a number of other reports. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.42.

ONEOK Stock Performance

Shares of ONEOK stock opened at $95.74 on Thursday. ONEOK has a one year low of $67.81 and a one year high of $118.07. The firm has a market capitalization of $55.93 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 3.69 and a beta of 1.70. The business has a 50-day simple moving average of $103.62 and a 200 day simple moving average of $97.42. 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 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 paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.30%. ONEOK’s dividend payout ratio is presently 82.85%.

Hedge Funds Weigh In On ONEOK

Institutional investors have recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $30,000. Matrix Trust Co purchased a new position in ONEOK in the third quarter valued at approximately $29,000. Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $40,000. Access Investment Management LLC purchased a new position in ONEOK in the third quarter valued at approximately $37,000. Finally, J.Safra Asset Management Corp purchased a new position in ONEOK in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors 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.