JPMorgan Chase & Co. Boosts ONEOK (NYSE:OKE) Price Target to $92.00

ONEOK (NYSE:OKE) had its target price lifted by JPMorgan Chase & Co. from $89.00 to $92.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities analysts have also recently issued reports about the company. UBS Group upped their price objective on ONEOK from $80.00 to $87.00 and gave the company a buy rating in a research report on Tuesday, February 27th. StockNews.com raised ONEOK from a sell rating to a hold rating in a research report on Friday, May 17th. US Capital Advisors lowered shares of ONEOK from an overweight rating to a hold rating in a research note on Wednesday, March 20th. Wells Fargo & Company boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Finally, Mizuho boosted their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a neutral rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $84.50.

ONEOK Stock Performance

Shares of OKE opened at $81.55 on Wednesday. The stock has a market cap of $47.60 billion, a P/E ratio of 18.97, a P/E/G ratio of 4.32 and a beta of 1.65. ONEOK has a 52 week low of $60.52 and a 52 week high of $83.31. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average price is $80.15 and its 200-day moving average price is $75.75.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for 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 in the prior year, the firm posted $2.34 EPS. Equities research analysts anticipate that ONEOK will post 4.94 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.86%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sheets Smith Wealth Management increased its stake in ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock worth $4,185,000 after buying an additional 139 shares in the last quarter. Venturi Wealth Management LLC increased its stake in ONEOK by 5.3% in the 1st quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock worth $225,000 after buying an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in ONEOK by 4.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after buying an additional 144 shares in the last quarter. Presima Securities ULC increased its stake in ONEOK by 1.7% in the 4th quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock worth $639,000 after buying an additional 150 shares in the last quarter. Finally, FourThought Financial Partners LLC increased its stake in ONEOK by 3.8% in the 4th quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after buying an additional 161 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

About ONEOK

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.