ONEOK, Inc. (NYSE:OKE) Given Consensus Rating of “Moderate Buy” by Brokerages

ONEOK, Inc. (NYSE:OKE) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $94.77.

OKE has been the topic of a number of research analyst reports. Scotiabank lifted their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Barclays lifted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Mizuho increased their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Truist Financial upped their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st.

ONEOK Stock Performance

NYSE:OKE opened at $97.23 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The stock has a market capitalization of $56.79 billion, a PE ratio of 21.18, a P/E/G ratio of 4.82 and a beta of 1.67. ONEOK has a fifty-two week low of $63.33 and a fifty-two week high of $98.01. The company has a fifty day moving average of $91.79 and a two-hundred day moving average of $84.68.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, research analysts forecast that ONEOK will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.07%. ONEOK’s payout ratio is 86.27%.

Insider Buying and Selling at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

Several institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. grew its position in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of ONEOK by 28.7% in the first 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. First Eagle Investment Management LLC increased its stake in ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares during the period. Energy Income Partners LLC lifted its holdings in ONEOK by 10.3% during the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after buying an additional 319,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after buying an additional 132,326 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.