ONEOK (NYSE:OKE) Upgraded to “Buy” by UBS Group

UBS Group upgraded shares of ONEOK (NYSE:OKE) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. They currently have $75.00 target price on the utilities provider’s stock, up from their previous target price of $69.00.

OKE has been the subject of a number of other reports. Citigroup lifted their price target on shares of ONEOK from $67.00 to $77.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Zacks Investment Research cut shares of ONEOK from a buy rating to a hold rating in a research report on Monday, May 20th. Seaport Global Securities cut shares of ONEOK from a buy rating to a neutral rating and set a $69.07 price target for the company. in a research report on Monday, April 22nd. Mitsubishi UFJ Financial Group lifted their price target on shares of ONEOK to $77.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Finally, Argus lifted their price target on shares of ONEOK to $82.00 and gave the company an average rating in a research report on Tuesday, August 6th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $72.37.

Shares of OKE traded down $0.06 during trading hours on Monday, reaching $69.21. 747,203 shares of the company traded hands, compared to its average volume of 2,132,476. The firm has a fifty day moving average price of $69.22. The stock has a market cap of $28.52 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.81 and a quick ratio of 0.60. ONEOK has a 12 month low of $50.26 and a 12 month high of $72.38.



ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was down 17.0% compared to the same quarter last year. Equities analysts anticipate that ONEOK will post 3.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Monday, August 5th. This is a boost from ONEOK’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a yield of 5.14%. ONEOK’s payout ratio is 128.06%.

A number of institutional investors have recently modified their holdings of the business. Pinnacle Financial Partners Inc. raised its holdings in shares of ONEOK by 712.9% during the second quarter. Pinnacle Financial Partners Inc. now owns 3,089 shares of the utilities provider’s stock valued at $213,000 after purchasing an additional 2,709 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of ONEOK by 10.8% during the second quarter. D.A. Davidson & CO. now owns 35,746 shares of the utilities provider’s stock valued at $2,460,000 after purchasing an additional 3,489 shares during the last quarter. Meadow Creek Investment Management LLC raised its holdings in shares of ONEOK by 20.4% during the second quarter. Meadow Creek Investment Management LLC now owns 22,384 shares of the utilities provider’s stock valued at $1,540,000 after purchasing an additional 3,792 shares during the last quarter. Tyers Asset Management LLC raised its holdings in shares of ONEOK by 20.4% during the second quarter. Tyers Asset Management LLC now owns 39,172 shares of the utilities provider’s stock valued at $2,695,000 after purchasing an additional 6,636 shares during the last quarter. Finally, Krane Funds Advisors LLC purchased a new position in shares of ONEOK during the second quarter valued at approximately $27,000. 74.39% of the stock is owned by institutional investors and hedge funds.

About ONEOK

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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