Analysts Set ONEOK, Inc. (NYSE:OKE) Price Target at $103.31

ONEOK, Inc. (NYSE:OKE) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $103.31.

Several research firms have recently issued reports on OKE. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company.

ONEOK Trading Down 0.5 %

Shares of OKE stock opened at $97.95 on Friday. ONEOK has a 1 year low of $76.23 and a 1 year high of $118.07. The firm has a market capitalization of $61.15 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The stock has a fifty day moving average of $99.08 and a two-hundred day moving average of $99.74. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, research analysts expect that ONEOK will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.21%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Institutional Investors Weigh In On ONEOK

Large investors have recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at $30,000. Greenline Partners LLC purchased a new stake in ONEOK in the 4th quarter worth about $32,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the 4th quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK during the 4th quarter valued at about $39,000. Finally, Canton Hathaway LLC acquired a new position in shares of ONEOK in the 4th quarter valued at about $40,000. 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.