Barclays Cuts ONEOK (NYSE:OKE) Price Target to $101.00

ONEOK (NYSE:OKE) had its target price cut by Barclays from $105.00 to $101.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

OKE has been the topic of a number of other reports. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial boosted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Down 0.2 %

NYSE OKE opened at $89.59 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock’s 50 day moving average is $100.00 and its two-hundred day moving average is $99.29. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 3.77 and a beta of 1.70. ONEOK has a 1-year low of $76.23 and a 1-year high of $118.07.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.60%. ONEOK’s dividend payout ratio is currently 79.69%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. QRG Capital Management Inc. raised its position in shares of ONEOK by 6.5% during the 3rd quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock valued at $541,000 after acquiring an additional 364 shares during the last quarter. Graypoint LLC raised its position in shares of ONEOK by 15.3% during the 3rd quarter. Graypoint LLC now owns 6,433 shares of the utilities provider’s stock valued at $586,000 after acquiring an additional 853 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of ONEOK by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock valued at $64,731,000 after acquiring an additional 24,193 shares during the last quarter. Heronetta Management L.P. raised its position in shares of ONEOK by 0.8% during the 3rd quarter. Heronetta Management L.P. now owns 158,252 shares of the utilities provider’s stock valued at $14,422,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after acquiring an additional 5,175 shares during the last quarter. 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.