ONEOK, Inc. (NYSE:OKE) Receives $103.31 Consensus Target Price from Analysts

ONEOK, Inc. (NYSE:OKE) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $103.31.

Several equities analysts recently commented on OKE shares. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Barclays decreased their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Finally, Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock.

Institutional Investors Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. grew its stake in shares of ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the period. McAdam LLC lifted its position in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position in shares of ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after buying an additional 100 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after buying an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA lifted its position in shares of ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE stock opened at $96.52 on Friday. The firm has a market cap of $60.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.77 and a beta of 1.70. The firm has a 50-day simple moving average of $99.21 and a two-hundred day simple moving average of $99.65. ONEOK has a one year low of $76.23 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities analysts forecast that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.