ONEOK (NYSE:OKE) Price Target Raised to $132.00

ONEOK (NYSE:OKE) had its target price lifted by UBS Group from $112.00 to $132.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on OKE. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Truist Financial raised their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $109.81 on Friday. The firm has a 50 day moving average of $96.54 and a 200 day moving average of $87.72. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $64.15 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. ONEOK has a 52 week low of $64.68 and a 52 week high of $110.05.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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 return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company earned $0.99 earnings per share. On average, sell-side analysts predict that ONEOK will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. HM Payson & Co. grew its position in shares of ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 105 shares during the period. Claro Advisors LLC raised its stake in shares of ONEOK by 1.6% during the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares during the period. Haverford Trust Co lifted its position in shares of ONEOK by 1.2% during the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after buying an additional 117 shares in the last quarter. QRG Capital Management Inc. grew its stake in ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the period. Finally, Johnson Investment Counsel Inc. increased its holdings in ONEOK by 0.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares in 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.