ONEOK, Inc. (NYSE:OKE) Receives $92.44 Consensus Price Target from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $91.8125.

A number of brokerages have recently commented on OKE. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada increased their price objective on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Barclays lowered their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Truist Financial raised their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th.

Institutional Trading of ONEOK

Several institutional investors have recently added to or reduced their stakes in OKE. Aberdeen Group plc grew its holdings in shares of ONEOK by 46.0% in the 4th quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock worth $70,388,000 after acquiring an additional 301,654 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in shares of ONEOK by 219.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock valued at $111,897,000 after purchasing an additional 1,045,976 shares during the period. Triune Financial Partners LLC acquired a new position in ONEOK in the 4th quarter valued at approximately $1,151,000. Royal Fund Management LLC increased its stake in shares of ONEOK by 40.8% in the fourth quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock worth $5,907,000 after acquiring an additional 23,281 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $90.03 on Monday. The company has a market capitalization of $56.73 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 4.80 and a beta of 0.73. The stock has a fifty day moving average of $89.23 and a two-hundred day moving average of $86.43. ONEOK has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter last year, the company posted $1.04 earnings per share. On average, analysts anticipate that ONEOK will post 5.65 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

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.