ONEOK (NYSE:OKE) Upgraded at US Capital Advisors

US Capital Advisors upgraded shares of ONEOK (NYSE:OKE) from a moderate buy rating to a strong-buy rating in a report issued on Monday morning,Zacks.com reports. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $4.84 EPS, Q1 2025 earnings at $1.38 EPS and Q2 2025 earnings at $1.30 EPS.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Price Performance

Shares of NYSE:OKE opened at $97.84 on Monday. ONEOK has a twelve month low of $67.67 and a twelve month high of $118.07. The stock’s 50 day moving average is $103.91 and its 200-day moving average is $97.42. 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 firm has a market capitalization of $57.16 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $30,000. Matrix Trust Co purchased a new stake in ONEOK in the third quarter worth $29,000. Canton Hathaway LLC bought a new stake in shares of ONEOK in the fourth quarter valued at $40,000. Access Investment Management LLC purchased a new position in shares of ONEOK during the 3rd quarter valued at $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK during the 3rd quarter worth $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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.