ONEOK, Inc. (NYSE:OKE) Receives $88.00 Consensus PT from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $88.00.

Several equities analysts have recently issued reports on OKE shares. Scotiabank decreased their price target on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a report on Tuesday, November 4th. Stifel Nicolaus set a $94.00 price target on ONEOK in a report on Thursday, October 30th. UBS Group reaffirmed a “buy” rating on shares of ONEOK in a research report on Wednesday, January 7th. Wells Fargo & Company decreased their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Finally, Barclays lowered their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th.

Insider Buying and Selling

In related news, Director Brian L. Derksen acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On ONEOK

A number of large investors have recently added to or reduced their stakes in the company. City Holding Co. acquired a new position in shares of ONEOK during the third quarter worth about $28,000. Winnow Wealth LLC bought a new stake in ONEOK in the 3rd quarter valued at approximately $28,000. Global Wealth Strategies & Associates acquired a new position in ONEOK during the 3rd quarter worth approximately $29,000. Financial Consulate Inc. bought a new position in shares of ONEOK during the 3rd quarter worth approximately $29,000. Finally, Access Investment Management LLC acquired a new stake in shares of ONEOK in the second quarter valued at approximately $33,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $72.53 on Thursday. The firm has a market capitalization of $45.64 billion, a P/E ratio of 13.33, a PEG ratio of 4.06 and a beta of 0.94. The business has a 50-day moving average of $71.79 and a 200-day moving average of $73.82. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. ONEOK has a 1 year low of $64.02 and a 1 year high of $111.02.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts anticipate that ONEOK will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.7%. ONEOK’s dividend payout ratio is currently 75.74%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.