Brokerages Set ONEOK, Inc. (NYSE:OKE) Target Price at $96.92

Shares of ONEOK, Inc. (NYSE:OKE) have received a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $100.38.

A number of analysts have recently issued reports on OKE shares. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Truist Financial raised their price objective on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Citigroup raised their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th.

ONEOK Stock Performance

Shares of NYSE OKE opened at $109.81 on Friday. The firm’s 50-day moving average price is $96.17 and its 200-day moving average price is $87.38. 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 company has a market cap of $64.15 billion, a PE ratio of 22.97, a PEG ratio of 5.40 and a beta of 1.66. ONEOK has a 52-week low of $64.68 and a 52-week high of $110.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business earned $0.99 EPS. As a group, analysts anticipate that ONEOK will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

Several institutional investors and hedge funds have recently modified their holdings of the stock. Matrix Trust Co bought a new stake in ONEOK in the third quarter worth $29,000. Quest Partners LLC purchased a new position in ONEOK during the second quarter worth $28,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter worth $31,000. Access Investment Management LLC purchased a new position in ONEOK during the third quarter worth $37,000. Finally, Values First Advisors Inc. purchased a new position in ONEOK during the third quarter worth $44,000. Institutional investors own 69.13% of the company’s stock.

About ONEOK

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.