ONEOK, Inc. (NYSE:OKE) Receives $92.38 Average Target Price from Analysts

ONEOK, Inc. (NYSE:OKE) has earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $92.38.

A number of research analysts have recently issued reports on OKE shares. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new stake in shares of ONEOK during the 1st quarter valued at $25,000. LifeSteps Financial Inc. acquired a new position in shares of ONEOK in the 1st quarter valued at $26,000. Quest Partners LLC purchased a new position in ONEOK in the 2nd quarter worth about $28,000. Ridgewood Investments LLC acquired a new stake in ONEOK during the 2nd quarter worth about $31,000. Finally, American National Bank purchased a new stake in ONEOK during the first quarter valued at about $32,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 0.0 %

Shares of ONEOK stock opened at $95.24 on Friday. The business has a 50-day moving average price of $87.65 and a 200 day moving average price of $82.74. ONEOK has a fifty-two week low of $60.58 and a fifty-two week high of $96.05. The firm has a market cap of $55.59 billion, a P/E ratio of 22.15, a P/E/G ratio of 4.64 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the business earned $1.04 EPS. On average, sell-side analysts forecast that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.16%. ONEOK’s payout ratio is 92.09%.

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.