ONEOK, Inc. (NYSE:OKE) Receives $92.38 Average Price Target from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $92.38.

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Scotiabank lifted their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Royal Bank of Canada upped their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Truist Financial lifted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their price objective on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th.

ONEOK Stock Performance

Shares of OKE opened at $93.97 on Friday. The firm has a market cap of $54.89 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. The company’s fifty day moving average is $87.24 and its 200-day moving average is $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. ONEOK has a 12 month low of $60.58 and a 12 month high of $95.28.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Equities analysts expect that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm 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 annualized dividend and a yield of 4.21%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On ONEOK

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after buying an additional 1,128,066 shares during the last quarter. M&G Plc bought a new stake in ONEOK during the 1st quarter worth approximately $77,634,000. Kayne Anderson Capital Advisors LP increased its holdings in ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in ONEOK by 36.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock valued at $145,782,000 after purchasing an additional 552,824 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its position in ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after purchasing an additional 501,216 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

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.