ONEOK (NYSE:OKE) PT Raised to $57.00 at Citigroup

ONEOK (NYSE:OKE) had its price objective boosted by Citigroup from $49.00 to $57.00 in a report published on Tuesday morning, The Fly reports. The firm currently has a neutral rating on the utilities provider’s stock.

Several other research firms also recently weighed in on OKE. Credit Suisse Group upped their price objective on shares of ONEOK from $49.00 to $53.00 and gave the stock a neutral rating in a report on Tuesday, May 11th. Mizuho upped their price target on shares of ONEOK from $44.00 to $49.00 and gave the company a neutral rating in a report on Wednesday, April 7th. They noted that the move was a valuation call. Raymond James upped their price target on shares of ONEOK from $47.00 to $54.00 and gave the company an outperform rating in a report on Thursday, April 15th. Wells Fargo & Company upped their price target on shares of ONEOK from $56.00 to $59.00 and gave the company an overweight rating in a report on Thursday, May 13th. Finally, Royal Bank of Canada upped their price target on shares of ONEOK from $49.00 to $54.00 and gave the company a sector perform rating in a report on Tuesday, May 4th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average price target of $44.59.

OKE stock opened at $54.78 on Tuesday. The firm has a market capitalization of $24.41 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.70 and a beta of 2.01. The business has a 50-day moving average of $52.64. ONEOK has a fifty-two week low of $23.28 and a fifty-two week high of $56.18. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 2.24.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.53 billion. ONEOK had a net margin of 11.88% and a return on equity of 18.61%. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, sell-side analysts expect that ONEOK will post 3.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Monday, April 26th were issued a $0.935 dividend. The ex-dividend date of this dividend was Friday, April 23rd. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.83%. ONEOK’s dividend payout ratio is 263.38%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Advisors Inc. OK increased its holdings in shares of ONEOK by 7.5% in the 1st quarter. Capital Advisors Inc. OK now owns 59,739 shares of the utilities provider’s stock valued at $3,026,000 after purchasing an additional 4,165 shares during the period. Pendal Group Limited bought a new position in ONEOK during the first quarter valued at approximately $1,242,000. B. Metzler seel. Sohn & Co. Holding AG lifted its stake in ONEOK by 5.4% in the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 20,678 shares of the utilities provider’s stock valued at $1,047,000 after acquiring an additional 1,063 shares during the last quarter. Axiom Investment Management LLC bought a new stake in ONEOK in the first quarter worth approximately $332,000. Finally, SkyView Investment Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth $235,000. Institutional investors own 63.97% of the company’s stock.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in 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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