ONEOK (NYSE:OKE) Sets New 1-Year High on Analyst Upgrade

ONEOK, Inc. (NYSE:OKE)’s stock price reached a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $103.00 to $105.00. Morgan Stanley currently has an equal weight rating on the stock. ONEOK traded as high as $97.90 and last traded at $97.24, with a volume of 297039 shares trading hands. The stock had previously closed at $95.32.

OKE has been the subject of a number of other reports. Wells Fargo & Company lowered their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Truist Financial boosted their target price on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Finally, Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.

Institutional Trading of ONEOK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC lifted its position in shares of ONEOK by 1.8% during the second quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock valued at $574,000 after purchasing an additional 115 shares in the last quarter. Clearstead Trust LLC increased its holdings in ONEOK by 4.7% in the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock worth $238,000 after acquiring an additional 117 shares during the last quarter. Hoxton Planning & Management LLC raised its position in shares of ONEOK by 2.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock valued at $395,000 after purchasing an additional 120 shares during the period. Welch Group LLC raised its holdings in ONEOK by 0.8% during the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock valued at $1,343,000 after acquiring an additional 122 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in ONEOK by 0.5% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock worth $2,374,000 after purchasing an additional 122 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

The business’s fifty day moving average price is $89.92 and its 200-day moving average price is $88.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The stock has a market capitalization of $60.43 billion, a PE ratio of 16.53, a P/E/G ratio of 2.72 and a beta of 0.73.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the prior year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.81 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK’s dividend payout ratio is presently 73.79%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.