Brokerages Set ONEOK, Inc. (NYSE:OKE) Target Price at $103.92

Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $103.92.

A number of brokerages have commented on OKE. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Barclays began coverage on ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Finally, Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd.

ONEOK Stock Down 0.6 %

Shares of OKE opened at $98.07 on Monday. The firm has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.80 and a beta of 1.70. 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 business’s fifty day moving average price is $101.19 and its two-hundred day moving average price is $98.65. ONEOK has a 52 week low of $72.44 and a 52 week high of $118.07.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.20%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

Institutional Trading of ONEOK

Several hedge funds have recently added to or reduced their stakes in OKE. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth $30,000. Greenline Partners LLC acquired a new stake in ONEOK during the 4th quarter worth $32,000. Access Investment Management LLC acquired a new stake in ONEOK during the 3rd quarter worth $37,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the 4th quarter worth $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK during the 4th quarter worth $39,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.