UBS Group Issues Positive Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its target price boosted by UBS Group from $112.00 to $132.00 in a research report released on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the utilities provider’s stock.

Several other research firms also recently commented on OKE. Scotiabank boosted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Trading Up 1.8 %

NYSE OKE traded up $1.93 during trading hours on Friday, hitting $109.81. 3,500,516 shares of the company’s stock were exchanged, compared to its average volume of 2,766,329. The firm has a market cap of $64.15 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 5.40 and a beta of 1.66. The stock has a 50-day simple moving average of $96.54 and a 200 day simple moving average of $87.58. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK has a 1-year low of $64.68 and a 1-year high of $110.05.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during 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 earned $0.99 EPS. On average, equities analysts forecast that ONEOK will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of ONEOK in the second quarter valued at approximately $28,000. Matrix Trust Co purchased a new stake in shares of ONEOK during the third quarter worth $29,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter worth $31,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the third quarter valued at $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the third quarter valued at $44,000. 69.13% of the stock is currently owned by institutional investors.

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.