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

Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $92.38.

A number of analysts recently commented on OKE shares. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. Mizuho lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Wells Fargo & Company lifted their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada upped their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd.

ONEOK Trading Up 0.9 %

Shares of NYSE OKE opened at $97.50 on Tuesday. ONEOK has a 1-year low of $63.33 and a 1-year high of $98.01. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $90.81 and a two-hundred day moving average of $84.26. The company has a market cap of $56.91 billion, a PE ratio of 22.67, a P/E/G ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the prior year, the business earned $1.04 EPS. As a group, equities analysts expect that ONEOK will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.06%. ONEOK’s dividend payout ratio is currently 92.09%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently bought and sold shares of OKE. Creative Planning lifted its position in shares of ONEOK by 3.2% in the third quarter. Creative Planning now owns 241,031 shares of the utilities provider’s stock worth $21,965,000 after purchasing an additional 7,467 shares in the last quarter. Wesbanco Bank Inc. increased its stake in ONEOK by 5.1% in the 3rd quarter. Wesbanco Bank Inc. now owns 10,996 shares of the utilities provider’s stock valued at $1,002,000 after buying an additional 533 shares during the last quarter. CX Institutional lifted its position in ONEOK by 1.0% during the 3rd quarter. CX Institutional now owns 56,583 shares of the utilities provider’s stock worth $5,156,000 after buying an additional 552 shares in the last quarter. Adamsbrown Wealth Consultants LLC boosted its stake in shares of ONEOK by 1.8% during the 3rd quarter. Adamsbrown Wealth Consultants LLC now owns 15,130 shares of the utilities provider’s stock worth $1,379,000 after buying an additional 264 shares during the last quarter. Finally, Oxler Private Wealth LLC grew its holdings in shares of ONEOK by 1.2% in the 3rd quarter. Oxler Private Wealth LLC now owns 46,729 shares of the utilities provider’s stock valued at $4,258,000 after acquiring an additional 537 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.