Brokerages Set ONEOK, Inc. (NYSE:OKE) Target Price at $101.00

ONEOK, Inc. (NYSE:OKE) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $101.00.

A number of equities analysts have recently commented on the stock. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays lifted their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Morgan Stanley raised 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 report on Monday, September 16th. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BancFirst Trust & Investment Management lifted its holdings in ONEOK by 2.5% in the fourth quarter. BancFirst Trust & Investment Management now owns 25,631 shares of the utilities provider’s stock valued at $2,583,000 after buying an additional 614 shares during the period. Principal Financial Group Inc. lifted its stake in shares of ONEOK by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock valued at $64,731,000 after purchasing an additional 24,193 shares during the period. Alternative Investment Advisors LLC. boosted its position in shares of ONEOK by 1.1% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 12,096 shares of the utilities provider’s stock worth $1,102,000 after purchasing an additional 136 shares during the last quarter. Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of ONEOK during the third quarter worth $319,000. Finally, Oddo BHF Asset Management Sas bought a new stake in ONEOK in the third quarter valued at about $605,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE:OKE opened at $101.77 on Friday. The firm’s 50-day moving average is $104.86 and its 200-day moving average is $93.83. The company has a market cap of $59.45 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 5.24 and a beta of 1.69. 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 has a 52-week low of $67.05 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business posted $0.99 EPS. Equities research analysts anticipate that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.89%. ONEOK’s payout ratio is 82.85%.

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.