ONEOK (NYSE:OKE) Price Target Raised to $133.00 at Morgan Stanley

ONEOK (NYSE:OKE) had its price target raised by Morgan Stanley from $111.00 to $133.00 in a report released on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other research firms have also recently weighed in on OKE. Barclays lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank lowered their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Trading Up 0.1 %

OKE opened at $102.42 on Tuesday. 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 stock’s fifty day moving average is $98.84 and its two-hundred day moving average is $100.07. The company has a market capitalization of $63.94 billion, a P/E ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. ONEOK has a 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Analysts forecast that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.02%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

Institutional Inflows and Outflows

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

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.