ONEOK (NYSE:OKE) Reaches New 1-Year Low Following Analyst Downgrade

ONEOK, Inc. (NYSE:OKE)’s stock price reached a new 52-week low during mid-day trading on Wednesday after Scotiabank lowered their price target on the stock from $88.00 to $87.00. Scotiabank currently has a sector outperform rating on the stock. ONEOK traded as low as $64.02 and last traded at $64.3030, with a volume of 4352998 shares traded. The stock had previously closed at $65.36.

A number of other equities research analysts have also recently issued reports on OKE. Citigroup dropped their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. TD Cowen decreased their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada dropped their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $91.94.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen bought 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. City Holding Co. acquired a new position in shares of ONEOK in the third quarter valued at approximately $28,000. Winnow Wealth LLC bought a new stake in ONEOK in the 3rd quarter valued at $28,000. Global Wealth Strategies & Associates bought a new stake in ONEOK in the 3rd quarter valued at $29,000. Financial Consulate Inc. acquired a new position in ONEOK in the 3rd quarter valued at $29,000. Finally, Access Investment Management LLC bought a new position in ONEOK during the 2nd quarter worth $33,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 2.3%

The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The stock has a market cap of $42.67 billion, a P/E ratio of 12.47, a PEG ratio of 2.62 and a beta of 1.05. The firm has a 50-day simple moving average of $71.08 and a two-hundred day simple moving average of $77.35.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The business had revenue of $9.17 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Monday, November 3rd. ONEOK’s dividend payout ratio is presently 75.74%.

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.