ONEOK (NYSE:OKE) PT Raised to $83.00 at Truist Financial

ONEOK (NYSE:OKE) had its target price lifted by Truist Financial from $81.00 to $83.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley increased their price objective on ONEOK from $90.00 to $93.00 and gave the company an equal weight rating in a research report on Monday, June 10th. Wells Fargo & Company increased their price objective on ONEOK from $81.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Mizuho upped their target price on ONEOK from $81.00 to $85.00 and gave the company a neutral rating in a research note on Friday, July 26th. Stifel Nicolaus upped their target price on ONEOK from $81.00 to $88.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, Tudor Pickering upgraded ONEOK to a hold rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $85.00.

ONEOK Stock Down 2.3 %

Shares of ONEOK stock opened at $80.17 on Wednesday. The stock has a market capitalization of $46.79 billion, a P/E ratio of 18.64, a PEG ratio of 4.37 and a beta of 1.65. 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 stock has a 50 day moving average price of $81.43 and a two-hundred day moving average price of $78.06. ONEOK has a 12-month low of $60.58 and a 12-month high of $86.20.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.94%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in shares of ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after buying an additional 119 shares in the last quarter. Sheets Smith Wealth Management boosted its holdings in ONEOK by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after acquiring an additional 139 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings in ONEOK by 0.3% in the second quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after acquiring an additional 140 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in ONEOK by 5.3% in the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 142 shares during the last quarter. Finally, Monarch Capital Management Inc. boosted its holdings in ONEOK by 0.9% in the second quarter. Monarch Capital Management Inc. now owns 15,716 shares of the utilities provider’s stock valued at $1,282,000 after acquiring an additional 143 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.