ONEOK (NYSE:OKE) Price Target Raised to $94.00 at Barclays

ONEOK (NYSE:OKE) had its price objective increased by Barclays from $82.00 to $94.00 in a research note released on Monday, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other brokerages also recently issued reports on OKE. Mizuho upped their price target on ONEOK from $81.00 to $85.00 and gave the stock a neutral rating in a report on Friday, July 26th. Scotiabank upped their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a sector outperform rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an overweight rating in a research report on Wednesday, June 26th. Tudor Pickering upgraded shares of ONEOK to a hold rating in a report on Thursday, July 18th. Finally, Citigroup lifted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a buy rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, ONEOK has an average rating of Hold and a consensus target price of $92.38.

ONEOK Stock Up 2.5 %

Shares of NYSE OKE opened at $93.68 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company has a 50-day moving average price of $86.36 and a 200-day moving average price of $82.00. The stock has a market capitalization of $54.72 billion, a P/E ratio of 21.79, a P/E/G ratio of 4.49 and a beta of 1.67. ONEOK has a 1 year low of $60.58 and a 1 year high of $93.88.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the previous year, the business earned $1.04 EPS. On average, equities research analysts forecast that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

Several institutional investors have recently added to or reduced their stakes in OKE. Rise Advisors LLC purchased a new position in shares of ONEOK in the first quarter worth about $25,000. LifeSteps Financial Inc. purchased a new position in ONEOK in the 1st quarter valued at approximately $26,000. Quest Partners LLC bought a new stake in ONEOK during the 2nd quarter valued at $28,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK during the second quarter worth $31,000. Finally, American National Bank purchased a new position in shares of ONEOK in the first quarter valued at $32,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile

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.