ONEOK (NYSE:OKE) Price Target Raised to $106.00

ONEOK (NYSE:OKE) had its price objective hoisted by JPMorgan Chase & Co. from $95.00 to $106.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

A number of other equities analysts have also recently weighed in on OKE. Royal Bank Of Canada increased their price objective on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. TD Cowen boosted their target price on ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Citigroup raised their price target on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $108.00 price objective on shares of ONEOK in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $95.50.

ONEOK Stock Down 0.3%

Shares of OKE opened at $95.76 on Tuesday. The company’s 50-day moving average price is $91.55 and its 200 day moving average price is $89.07. ONEOK has a 12-month low of $64.02 and a 12-month high of $99.85. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The firm has a market cap of $60.36 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.68 and a beta of 0.74.

ONEOK (NYSE:OKE) last announced its 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. The company had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter last year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, sell-side analysts forecast that ONEOK will post 5.84 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors 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 annualized dividend and a yield of 4.5%. ONEOK’s dividend payout ratio (DPR) is 73.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKE. California State Teachers Retirement System lifted its position in shares of ONEOK by 6,935.8% during the 2nd quarter. California State Teachers Retirement System now owns 119,843,399 shares of the utilities provider’s stock worth $10,419,185,000 after purchasing an additional 118,140,062 shares during the last quarter. BlackRock Inc. raised its stake in ONEOK by 8.7% in the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock valued at $5,610,887,000 after buying an additional 5,148,768 shares in the last quarter. State Street Corp lifted its holdings in ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after buying an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ONEOK by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after buying an additional 599,248 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ONEOK by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock worth $1,215,107,000 after acquiring an additional 518,746 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Company Profile

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.