Brokerages Set ONEOK, Inc. (NYSE:OKE) Price Target at $101.00

Shares of ONEOK, Inc. (NYSE:OKE) have received an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $101.00.

OKE has been the subject of a number of analyst reports. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Citigroup boosted their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd.

ONEOK Price Performance

Shares of OKE opened at $108.94 on Wednesday. The firm has a market cap of $63.64 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 5.59 and a beta of 1.69. The stock has a 50 day moving average of $102.06 and a 200-day moving average of $90.78. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK has a 52 week low of $65.49 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, analysts forecast that ONEOK will post 5.08 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently modified their holdings of OKE. Kingswood Wealth Advisors LLC raised its position in shares of ONEOK by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 12,578 shares of the utilities provider’s stock worth $1,026,000 after purchasing an additional 443 shares during the period. CWM LLC raised its position in shares of ONEOK by 42.8% during the second quarter. CWM LLC now owns 53,688 shares of the utilities provider’s stock worth $4,378,000 after purchasing an additional 16,085 shares during the period. Simplicity Wealth LLC raised its position in shares of ONEOK by 3.9% during the second quarter. Simplicity Wealth LLC now owns 11,823 shares of the utilities provider’s stock worth $964,000 after purchasing an additional 442 shares during the period. Strategic Advocates LLC raised its position in shares of ONEOK by 11.8% during the second quarter. Strategic Advocates LLC now owns 4,608 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 488 shares during the period. Finally, Accel Wealth Management raised its position in shares of ONEOK by 30.4% during the second quarter. Accel Wealth Management now owns 4,674 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 1,090 shares during the period. 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.