ONEOK (NYSE:OKE) Stock Price Down 3.9% – Time to Sell?

ONEOK, Inc. (NYSE:OKE) shares dropped 3.9% during trading on Monday . The company traded as low as $112.40 and last traded at $112.48. Approximately 1,854,124 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 2,772,497 shares. The stock had previously closed at $117.05.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research reports. Citigroup boosted their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Truist Financial raised their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Performance

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a fifty day simple moving average of $99.98 and a two-hundred day simple moving average of $89.62. The firm has a market capitalization of $65.77 billion, a P/E ratio of 23.55, a P/E/G ratio of 5.56 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $0.99 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.52%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Activity at ONEOK

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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Matrix Trust Co bought a new stake in shares of ONEOK during the third quarter worth about $29,000. Quest Partners LLC acquired a new position in ONEOK during the 2nd quarter valued at about $28,000. Ridgewood Investments LLC bought a new stake in ONEOK during the 2nd quarter worth approximately $31,000. Access Investment Management LLC purchased a new stake in shares of ONEOK in the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK during the third quarter valued at approximately $44,000. Institutional investors and hedge funds 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.