ONEOK (NYSE:OKE) Price Target Raised to $94.00

ONEOK (NYSE:OKE) had its price target lifted by Barclays from $82.00 to $94.00 in a report published on Monday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

A number of other brokerages have also commented on OKE. Tudor Pickering upgraded ONEOK to a hold rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the stock an overweight rating in a research note on Wednesday, June 26th. Truist Financial upped their target price on ONEOK from $81.00 to $83.00 and gave the stock a hold rating in a research note on Wednesday, July 31st. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the stock a sector outperform rating in a research report on Friday, August 30th. Finally, Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock a neutral rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of Hold and an average price target of $92.38.

ONEOK Stock Down 0.1 %

NYSE:OKE opened at $93.77 on Monday. ONEOK has a twelve month low of $60.58 and a twelve month high of $95.28. The company has a market cap of $54.77 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. The stock has a fifty day simple moving average of $87.05 and a 200-day simple moving average of $82.30. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Analysts anticipate that ONEOK will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.22%. ONEOK’s dividend payout ratio is presently 92.09%.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. raised its holdings in shares of ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ONEOK by 1.5% in the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after acquiring an additional 85,736 shares during the last quarter. Norges Bank acquired a new position in shares of ONEOK in the fourth quarter worth $297,948,000. Kayne Anderson Capital Advisors LP raised its holdings in shares of ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of ONEOK by 12.3% in the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

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.