ONEOK, Inc. (NYSE:OKE) Receives $96.92 Consensus Price Target from Brokerages

ONEOK, Inc. (NYSE:OKE) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $96.92.

A number of analysts have recently issued reports on OKE shares. Truist Financial lifted their price objective on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Finally, Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

Institutional investors have recently modified their holdings of the business. National Pension Service lifted its position in ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. lifted its position in ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the period. Caxton Associates LP bought a new stake in ONEOK during the second quarter worth about $1,225,000. Point72 Europe London LLP bought a new stake in ONEOK during the second quarter worth about $15,008,000. Finally, Sageworth Trust Co bought a new stake in ONEOK during the third quarter worth about $568,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $109.05 on Friday. 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 has a twelve month low of $63.77 and a twelve month high of $109.18. The firm’s 50 day moving average price is $94.86 and its two-hundred day moving average price is $86.71. The firm has a market cap of $63.71 billion, a P/E ratio of 22.42, a PEG ratio of 5.35 and a beta of 1.66.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm posted $0.99 EPS. On average, analysts forecast that ONEOK will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.63%. ONEOK’s dividend payout ratio is currently 82.85%.

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.