ONEOK, Inc. (NYSE:OKE) Given Consensus Rating of “Moderate Buy” by Brokerages

ONEOK, Inc. (NYSE:OKE) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $102.92.

Several brokerages have issued reports on OKE. UBS Group boosted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Scotiabank initiated coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Barclays upped their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th.

ONEOK Stock Down 0.2 %

OKE stock opened at $100.38 on Thursday. ONEOK has a twelve month low of $67.05 and a twelve month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $58.64 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The business’s 50-day simple moving average is $105.51 and its 200 day simple moving average is $96.93.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the firm posted $0.99 earnings per share. On average, research analysts anticipate that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.10%. ONEOK’s dividend payout ratio is currently 82.85%.

Hedge Funds Weigh In On ONEOK

Large investors have recently made changes to their positions in the company. Matrix Trust Co bought a new stake in ONEOK during the 3rd quarter worth about $29,000. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter worth approximately $30,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new position in ONEOK in the third quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC grew its holdings in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.