ONEOK (NYSE:OKE) Sets New 1-Year High at $93.00

Shares of ONEOK, Inc. (NYSE:OKE) reached a new 52-week high during trading on Monday . The stock traded as high as $93.00 and last traded at $93.00, with a volume of 2035 shares traded. The stock had previously closed at $91.37.

Analysts Set New Price Targets

Several analysts have recently weighed in on OKE shares. Truist Financial lifted their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Mizuho increased their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $111.00 in a research note on Monday. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $91.31.

ONEOK Price Performance

The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $54.02 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 4.47 and a beta of 1.67. The stock’s 50-day moving average price is $86.12 and its 200-day moving average price is $81.87.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is presently 92.09%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Trading of ONEOK

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hilltop Holdings Inc. lifted its holdings in shares of ONEOK by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after acquiring an additional 1,124 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of ONEOK by 11.6% during the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock valued at $14,610,000 after acquiring an additional 21,657 shares in the last quarter. Norden Group LLC grew its position in ONEOK by 4,460.2% during the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after acquiring an additional 131,441 shares during the last quarter. Wellington Management Group LLP raised its position in ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of ONEOK by 8.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock valued at $8,510,000 after purchasing an additional 9,722 shares in the last quarter. Institutional investors and hedge funds 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.