ONEOK (NYSE:OKE) Price Target Raised to $93.00 at Morgan Stanley

ONEOK (NYSE:OKEFree Report) had its target price raised by Morgan Stanley from $90.00 to $93.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on ONEOK from $88.00 to $89.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Wells Fargo & Company increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Mizuho boosted their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a neutral rating in a research note on Wednesday, March 20th. UBS Group upped their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus lifted their price target on ONEOK from $81.00 to $88.00 and gave the company a buy rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $84.25.

View Our Latest Report on ONEOK

ONEOK Price Performance

OKE stock opened at $78.76 on Monday. The company has a market capitalization of $45.97 billion, a PE ratio of 18.32, a P/E/G ratio of 4.29 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average is $79.82 and its two-hundred day moving average is $74.83. ONEOK has a 52-week low of $57.37 and a 52-week high of $83.31.

ONEOK (NYSE:OKEGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the firm earned $2.34 earnings per share. Analysts predict that ONEOK will post 4.94 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 5.03%. ONEOK’s dividend payout ratio is currently 92.09%.

Institutional Trading of ONEOK

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after acquiring an additional 5,525,010 shares in the last quarter. Norges Bank acquired a new stake in shares of ONEOK in the fourth quarter worth $297,948,000. Deutsche Bank AG grew its holdings in shares of ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after buying an additional 3,636,660 shares in the last quarter. Blackstone Inc. raised its position in ONEOK by 3,478.3% during the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after buying an additional 3,478,316 shares during the period. Finally, Invesco Ltd. lifted its stake in ONEOK by 65.9% in the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock worth $515,832,000 after acquiring an additional 3,229,046 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

About ONEOK

(Get Free Report)

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.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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