ONEOK (NYSE:OKE) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of ONEOK (NYSE:OKE) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $105.00 target price on the utilities provider’s stock.

Several other research firms have also recently weighed in on OKE. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.42.

ONEOK Trading Down 2.2 %

NYSE:OKE opened at $95.74 on Thursday. The company has a market cap of $55.93 billion, a P/E ratio of 20.03, a P/E/G ratio of 3.69 and a beta of 1.70. The stock’s fifty day moving average price is $103.62 and its two-hundred day moving average price is $97.42. ONEOK has a 1 year low of $67.81 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Hedge Funds Weigh In On ONEOK

Several large investors have recently made changes to their positions in OKE. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Geode Capital Management LLC grew its position in ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares during the period. Janus Henderson Group PLC grew its position in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares during the period. International Assets Investment Management LLC grew its position in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Finally, abrdn plc grew its position in ONEOK by 14.8% in the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after purchasing an additional 277,514 shares during the period. 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.