ONEOK (NYSE:OKE) Sets New 52-Week High After Analyst Upgrade

ONEOK, Inc. (NYSE:OKE) reached a new 52-week high on Monday after UBS Group raised their price target on the stock from $112.00 to $132.00. UBS Group currently has a buy rating on the stock. ONEOK traded as high as $111.15 and last traded at $111.15, with a volume of 88100 shares changing hands. The stock had previously closed at $109.81.

Several other research analysts have also issued reports on the company. Scotiabank increased their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company increased their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK during the third quarter worth $47,957,000. Bahl & Gaynor Inc. increased its position in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new stake in ONEOK during the 3rd quarter worth $45,194,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.3 %

The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $64.99 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. The company has a fifty day simple moving average of $96.54 and a two-hundred day simple moving average of $87.72.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (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 business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The business 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 annualized dividend and a yield of 3.56%. ONEOK’s dividend payout ratio is currently 82.85%.

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.