ONEOK (NYSE:OKE) Price Target Raised to $94.00

ONEOK (NYSE:OKE) had its price target lifted by Barclays from $82.00 to $94.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

OKE has been the topic of a number of other reports. Truist Financial boosted their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a hold rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on shares of ONEOK from $84.00 to $89.00 and gave the company a sector perform rating in a research note on Thursday, August 22nd. Wells Fargo & Company upped their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an overweight rating in a research note on Friday, August 30th. Morgan Stanley raised shares of ONEOK from an equal weight rating to an overweight rating and increased their target price for the stock from $103.00 to $111.00 in a research note on Monday. Finally, Citigroup increased their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a buy rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $92.38.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.77 on Monday. The firm has a 50 day moving average of $87.05 and a 200-day moving average of $82.30. The stock has a market capitalization of $54.77 billion, a PE ratio of 21.81, a PEG ratio of 4.49 and a beta of 1.67. ONEOK has a 12 month low of $60.58 and a 12 month high of $95.28. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company earned $1.04 EPS. On average, equities research analysts predict that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared 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. This represents a $3.96 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On ONEOK

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in ONEOK in the 1st quarter worth about $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK during the 1st quarter valued at about $26,000. Quest Partners LLC purchased a new stake in shares of ONEOK during the 2nd quarter valued at about $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $31,000. Finally, American National Bank bought a new position in shares of ONEOK during the 1st quarter valued at approximately $32,000. Institutional investors 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.