ONEOK (NYSE:OKE) Trading 0.1% Higher

Shares of ONEOK, Inc. (NYSE:OKE) traded up 0.1% during mid-day trading on Tuesday . The stock traded as high as $81.10 and last traded at $80.94. 203,650 shares were traded during trading, a decline of 93% from the average session volume of 2,844,258 shares. The stock had previously closed at $80.89.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Mizuho increased their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Morgan Stanley increased their target price on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.50.

ONEOK Trading Down 0.6 %

The stock has a market cap of $47.00 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 4.34 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The business’s 50 day simple moving average is $80.00 and its 200 day simple moving average is $75.58.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter last year, the company posted $2.34 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 92.09%.

Institutional Trading of ONEOK

Hedge funds have recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of ONEOK during the 1st quarter worth about $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK during the 1st quarter worth about $26,000. American National Bank acquired a new stake in shares of ONEOK during the 1st quarter worth about $32,000. Beacon Capital Management LLC lifted its stake in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.