ONEOK (NYSE:OKE) Price Target Raised to $105.00

ONEOK (NYSE:OKE) had its price objective raised by Morgan Stanley from $103.00 to $105.00 in a report published on Tuesday, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

OKE has been the topic of several other research reports. JPMorgan Chase & Co. raised their price target on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Truist Financial upped their target price on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Wells Fargo & Company reduced their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.94.

ONEOK Stock Down 1.4%

NYSE:OKE opened at $94.69 on Tuesday. The company has a market cap of $59.69 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The stock’s fifty day moving average price is $90.03 and its two-hundred day moving average price is $88.16. ONEOK has a 52-week low of $64.02 and a 52-week high of $97.90.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.46 by $0.07. The company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period last year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts anticipate that ONEOK will post 5.82 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio is currently 73.79%.

Hedge Funds Weigh In On ONEOK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Empowered Funds LLC increased its stake in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in ONEOK in the first quarter worth $216,000. Federated Hermes Inc. raised its holdings in ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 383 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of ONEOK by 3.9% during the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after purchasing an additional 4,902 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

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.