ONEOK (NYSE:OKE) Now Covered by Scotiabank

Scotiabank started coverage on shares of ONEOK (NYSE:OKE) in a research report report published on Friday, Marketbeat reports. The brokerage issued a sector outperform rating and a $109.00 price objective on the utilities provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

ONEOK Stock Down 1.0 %

NYSE OKE opened at $101.84 on Friday. ONEOK has a 1-year low of $67.05 and a 1-year high of $118.07. The company has a market capitalization of $59.49 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 5.24 and a beta of 1.70. The stock’s 50 day moving average is $105.63 and its two-hundred day moving average is $94.75. 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 (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the firm earned $0.99 EPS. Equities analysts forecast that ONEOK will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.89%. ONEOK’s payout ratio is 82.85%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LVM Capital Management Ltd. MI bought a new stake in shares of ONEOK during the fourth quarter worth approximately $679,000. ORG Wealth Partners LLC grew its holdings in ONEOK by 68.2% during the 4th quarter. ORG Wealth Partners LLC now owns 1,953 shares of the utilities provider’s stock worth $196,000 after acquiring an additional 792 shares during the period. ST Germain D J Co. Inc. grew its holdings in ONEOK by 36.0% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,899 shares of the utilities provider’s stock worth $391,000 after acquiring an additional 1,033 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of ONEOK by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 223,459 shares of the utilities provider’s stock valued at $22,435,000 after acquiring an additional 4,915 shares during the last quarter. Finally, First Hawaiian Bank lifted its stake in shares of ONEOK by 61.9% in the 4th quarter. First Hawaiian Bank now owns 23,183 shares of the utilities provider’s stock valued at $2,328,000 after purchasing an additional 8,867 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.