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

Shares of ONEOK, Inc. (NYSE:OKE) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $100.60.

Several brokerages recently issued reports on OKE. Royal Bank Of Canada reduced their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Morgan Stanley dropped their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Finally, Mizuho dropped their target price on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th.

ONEOK Trading Up 0.7%

Shares of NYSE OKE opened at $71.87 on Friday. ONEOK has a 12 month low of $70.63 and a 12 month high of $118.07. The company has a market cap of $45.26 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.70 and a beta of 1.04. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $77.69 and a 200-day simple moving average of $83.74.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period in the prior year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts predict that ONEOK will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s dividend payout ratio is currently 80.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Alternative Investment Advisors LLC. increased its holdings in shares of ONEOK by 1.2% during the 2nd quarter. Alternative Investment Advisors LLC. now owns 12,479 shares of the utilities provider’s stock valued at $1,019,000 after acquiring an additional 148 shares during the last quarter. Total Investment Management Inc. acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $46,000. Orion Porfolio Solutions LLC grew its holdings in shares of ONEOK by 29.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 54,670 shares of the utilities provider’s stock worth $4,463,000 after purchasing an additional 12,401 shares in the last quarter. Provident Investment Management Inc. acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $372,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of ONEOK by 55.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 89,686 shares of the utilities provider’s stock worth $7,308,000 after buying an additional 31,816 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.