ONEOK (NYSE:OKE) Given New $99.00 Price Target at Barclays

ONEOK (NYSE:OKE) had its price objective upped by Barclays from $94.00 to $99.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank increased their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial boosted their price objective on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.92.

ONEOK Trading Up 1.9 %

Shares of OKE stock opened at $104.13 on Monday. The company has a market capitalization of $60.83 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 4.08 and a beta of 1.66. ONEOK has a 52-week low of $63.33 and a 52-week high of $104.50. The business’s fifty day moving average is $94.29 and its 200 day moving average is $86.31. 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 issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business posted $0.99 EPS. On average, equities research analysts anticipate that ONEOK will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Insider Buying and Selling

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

Hedge Funds Weigh In On ONEOK

A number of institutional investors and hedge funds have recently made changes to their positions in OKE. Allspring Global Investments Holdings LLC boosted its holdings in ONEOK by 464.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock worth $15,875,000 after acquiring an additional 162,963 shares in the last quarter. Norden Group LLC grew its position in ONEOK by 153.1% during the 1st quarter. Norden Group LLC now owns 7,458 shares of the utilities provider’s stock valued at $598,000 after purchasing an additional 4,511 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of ONEOK during the first quarter valued at approximately $209,000. Janney Montgomery Scott LLC increased its holdings in shares of ONEOK by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 163,754 shares of the utilities provider’s stock worth $13,128,000 after purchasing an additional 10,460 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in ONEOK by 4.5% in the 1st quarter. Nordea Investment Management AB now owns 35,326 shares of the utilities provider’s stock worth $2,827,000 after buying an additional 1,513 shares during the last quarter. Institutional investors 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.