ONEOK (NYSE:OKE) Hits New 1-Year High at $95.35

ONEOK, Inc. (NYSE:OKE) reached a new 52-week high during trading on Monday . The company traded as high as $95.35 and last traded at $95.27, with a volume of 2291819 shares. The stock had previously closed at $93.97.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent analyst reports. Barclays raised their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Royal Bank of Canada upped their price target on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.38.

ONEOK Stock Performance

The business has a 50-day moving average price of $87.24 and a 200-day moving average price of $82.49. 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 firm has a market capitalization of $55.64 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 4.64 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the business posted $1.04 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is presently 92.09%.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On ONEOK

Large investors have recently bought and sold shares of the business. Verity & Verity LLC lifted its position in shares of ONEOK by 1.5% in the second quarter. Verity & Verity LLC now owns 248,055 shares of the utilities provider’s stock valued at $20,229,000 after acquiring an additional 3,602 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of ONEOK by 96.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 4,578 shares of the utilities provider’s stock worth $373,000 after buying an additional 2,252 shares during the period. Sanctuary Advisors LLC purchased a new position in ONEOK during the 2nd quarter valued at about $8,828,000. Centennial Bank AR lifted its position in shares of ONEOK by 11.5% during the second quarter. Centennial Bank AR now owns 2,029 shares of the utilities provider’s stock worth $165,000 after purchasing an additional 210 shares in the last quarter. Finally, Dana Investment Advisors Inc. increased its stake in ONEOK by 3.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 3,868 shares of the utilities provider’s stock worth $315,000 after buying an additional 143 shares during the period. 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.