ONEOK, Inc. (NYSE:OKE) Given Average Recommendation of “Moderate Buy” by Brokerages

ONEOK, Inc. (NYSE:OKE) has earned an average rating of “Moderate Buy” from the seventeen research firms that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $94.77.

Several research firms recently commented on OKE. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd.

ONEOK Stock Down 0.4 %

Shares of NYSE OKE opened at $96.82 on Tuesday. The stock has a market capitalization of $56.55 billion, a PE ratio of 21.09, a P/E/G ratio of 4.82 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The firm has a fifty day moving average of $92.02 and a 200-day moving average of $84.84. ONEOK has a 52-week low of $63.33 and a 52-week high of $98.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, analysts anticipate that ONEOK will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.09%. ONEOK’s payout ratio is 86.27%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred 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 SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On ONEOK

Large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of ONEOK in the 1st quarter worth about $25,000. Quest Partners LLC acquired a new position in ONEOK in the second quarter valued at approximately $28,000. Matrix Trust Co bought a new position in shares of ONEOK during the third quarter valued at approximately $29,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK in the 2nd quarter worth approximately $31,000. Finally, American National Bank acquired a new position in ONEOK during the 1st quarter valued at approximately $32,000. 69.13% of the stock is currently owned by institutional investors.

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.