Brokerages Set ONEOK, Inc. (NYSE:OKE) Target Price at $74.53

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Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus recommendation of “Hold” by the twenty analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $74.53.

A number of research firms have recently issued reports on OKE. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $69.00 to $75.00 in a research note on Monday, August 12th. Goldman Sachs Group upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $73.00 to $81.00 in a research report on Sunday, November 3rd. Tudor Pickering assumed coverage on ONEOK in a report on Friday, November 8th. They set a “buy” rating and a $74.00 price target for the company. Barclays set a $79.00 price objective on ONEOK and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, Raymond James cut their price objective on ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd.

Shares of OKE stock opened at $71.59 on Friday. ONEOK has a 12-month low of $50.26 and a 12-month high of $77.21. The company has a market capitalization of $29.57 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.17 and a beta of 1.16. The firm has a 50-day moving average price of $70.79 and a 200 day moving average price of $69.74. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.01.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, research analysts expect that ONEOK will post 3.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.915 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.11%. This is a positive change from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s dividend payout ratio (DPR) is currently 131.65%.

In other ONEOK news, CAO Mary M. Spears sold 2,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.85, for a total transaction of $143,700.00. Following the transaction, the chief accounting officer now owns 10,263 shares of the company’s stock, valued at approximately $737,396.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. Resources Management Corp CT ADV bought a new stake in ONEOK during the 3rd quarter worth about $210,000. Institutional & Family Asset Management LLC boosted its stake in shares of ONEOK by 83.5% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 8,528 shares of the utilities provider’s stock valued at $628,000 after purchasing an additional 3,880 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of ONEOK by 71.6% in the 3rd quarter. IHT Wealth Management LLC now owns 8,684 shares of the utilities provider’s stock valued at $640,000 after purchasing an additional 3,623 shares during the last quarter. Regal Investment Advisors LLC grew its position in shares of ONEOK by 56.2% during the 3rd quarter. Regal Investment Advisors LLC now owns 5,600 shares of the utilities provider’s stock worth $413,000 after buying an additional 2,014 shares during the period. Finally, National Pension Service grew its position in shares of ONEOK by 5.0% during the 3rd quarter. National Pension Service now owns 523,238 shares of the utilities provider’s stock worth $38,557,000 after buying an additional 24,862 shares during the period. 73.27% of the stock is owned by institutional investors.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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