ONEOK, Inc. (NYSE:OKE) Receives $101.00 Average Target Price from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $101.00.

A number of research firms have recently commented on OKE. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OKE. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Geode Capital Management LLC increased its stake in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the period. Tortoise Capital Advisors L.L.C. raised its holdings 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. Janus Henderson Group PLC lifted its position in shares of ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after acquiring an additional 11,189 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.4 %

OKE opened at $100.40 on Friday. The firm has a 50 day simple moving average of $104.70 and a 200 day simple moving average of $93.73. ONEOK has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a market cap of $58.65 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 5.24 and a beta of 1.69. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during 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 in the prior year, the company posted $0.99 EPS. On average, sell-side analysts anticipate that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

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.