ONEOK (NYSE:OKE) Price Target Raised to $92.00

ONEOK (NYSE:OKE) had its price target lifted by JPMorgan Chase & Co. from $91.00 to $92.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. Citigroup lifted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Morgan Stanley lifted their price objective on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Barclays lifted their price objective on shares of ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Finally, Mizuho set a $89.00 price objective on shares of ONEOK in a research note on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $91.88.

ONEOK Trading Down 0.1%

Shares of OKE opened at $85.09 on Friday. The company’s fifty day moving average is $87.19 and its 200 day moving average is $78.82. ONEOK has a fifty-two week low of $64.02 and a fifty-two week high of $95.30. The stock has a market capitalization of $53.61 billion, a PE ratio of 15.17, a P/E/G ratio of 6.04 and a beta of 0.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the previous year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts expect that ONEOK will post 5.9 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, May 4th. ONEOK’s payout ratio is currently 76.29%.

Institutional Trading of ONEOK

A number of large investors have recently made changes to their positions in the stock. National Pension Service lifted its stake in ONEOK by 2.9% in the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock worth $62,605,000 after acquiring an additional 24,003 shares during the period. Hudson Edge Investment Partners Inc. lifted its stake in ONEOK by 34.1% in the third quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock worth $6,397,000 after acquiring an additional 22,282 shares during the period. Nordea Investment Management AB lifted its stake in ONEOK by 7.5% in the third quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock worth $55,885,000 after acquiring an additional 54,444 shares during the period. Legal & General Group Plc lifted its stake in ONEOK by 1.6% in the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after acquiring an additional 80,683 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in ONEOK by 29.6% in the third quarter. Jones Financial Companies Lllp now owns 534,285 shares of the utilities provider’s stock worth $39,401,000 after acquiring an additional 121,891 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.