ONEOK, Inc. (NYSE:OKE) Receives Average Recommendation of “Hold” from Brokerages

ONEOK, Inc. (NYSE:OKE) has been given an average rating of “Hold” by the seventeen analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $84.25.

A number of research analysts have issued reports on the company. Mizuho lifted their price objective on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Truist Financial lifted their price target on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price target on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus lifted their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th.

Hedge Funds Weigh In On ONEOK

Several institutional investors have recently modified their holdings of OKE. Vanguard Group Inc. grew its position in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Norges Bank acquired a new position in shares of ONEOK in the 4th quarter valued at approximately $297,948,000. Deutsche Bank AG grew its position in shares of ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the period. Blackstone Inc. grew its position in shares of ONEOK by 3,478.3% in the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after purchasing an additional 3,478,316 shares during the period. Finally, Invesco Ltd. grew its position in shares of ONEOK by 65.9% in the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after purchasing an additional 3,229,046 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of NYSE OKE opened at $78.10 on Wednesday. The business has a fifty day simple moving average of $79.79 and a 200 day simple moving average of $75.01. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $45.58 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 4.19 and a beta of 1.65. ONEOK has a one year low of $57.37 and a one year high of $83.31.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the business earned $2.34 earnings per share. Sell-side analysts expect that ONEOK will post 4.94 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 5.07%. ONEOK’s payout ratio is currently 92.09%.

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.