ONEOK, Inc. (NYSE:OKE) Receives Average Recommendation of “Moderate Buy” from Analysts

ONEOK, Inc. (NYSE:OKE) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $103.31.

A number of equities analysts have issued reports on the stock. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd.

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kieckhefer Group LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $30,000. Greenline Partners LLC acquired a new stake in ONEOK in the 4th quarter valued at $32,000. Vermillion Wealth Management Inc. bought a new stake in ONEOK during the 4th quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the 4th quarter worth about $39,000. Finally, Canton Hathaway LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.7 %

Shares of OKE opened at $100.75 on Friday. The business’s fifty day moving average price is $98.99 and its two-hundred day moving average price is $99.75. The firm has a market capitalization of $62.90 billion, a price-to-earnings ratio of 21.08, 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. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, analysts predict that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 79.69%.

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.