ONEOK, Inc. (NYSE:OKE) Receives $105.00 Consensus Target Price from Brokerages

Shares of ONEOK, Inc. (NYSE:OKE) have earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $105.00.

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. 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 issued a “buy” rating and a $110.00 price objective on the stock. Finally, Barclays decreased their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th.

ONEOK Trading Down 4.5 %

OKE opened at $81.05 on Tuesday. ONEOK has a twelve month low of $75.48 and a twelve month high of $118.07. The firm has a market cap of $50.62 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s fifty day moving average is $94.93 and its two-hundred day moving average is $99.67.

ONEOK (NYSE:OKE) last announced its quarterly 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts anticipate that ONEOK will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in ONEOK in the fourth quarter valued at about $539,554,000. Wellington Management Group LLP grew its holdings in shares of ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ONEOK by 240.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock worth $280,194,000 after purchasing an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. bought a new position in ONEOK in the 4th quarter valued at approximately $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in ONEOK in the fourth quarter valued at approximately $177,045,000. 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.