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

ONEOK, Inc. (NYSE:OKE) has been given a consensus rating of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $103.31.

A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th.

Institutional Investors Weigh In On ONEOK

Hedge funds have recently made changes to their positions in the business. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter worth about $30,000. Greenline Partners LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $32,000. Vermillion Wealth Management Inc. purchased a new stake in shares of ONEOK during the 4th quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the 4th quarter worth approximately $39,000. Finally, Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $40,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $93.40 on Friday. ONEOK has a one year low of $76.23 and a one year high of $118.07. The company has a market cap of $58.31 billion, a PE ratio of 19.54, a P/E/G ratio of 3.77 and a beta of 1.70. The stock has a 50-day moving average of $99.34 and a 200-day moving average of $99.43. 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 announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities research analysts predict that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.