ONEOK, Inc. (NYSE:OKE) has been given an average rating of “Hold” by the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $58.62.
OKE has been the topic of several research analyst reports. Credit Suisse Group cut their target price on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. BidaskClub raised ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Argus reissued a “buy” rating and set a $59.00 target price (up previously from $55.00) on shares of ONEOK in a research report on Thursday, August 24th. Jefferies Group LLC reissued a “hold” rating and set a $52.00 target price (up previously from $51.00) on shares of ONEOK in a research report on Friday, September 1st. Finally, Barclays PLC began coverage on ONEOK in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 target price on the stock.
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Several large investors have recently added to or reduced their stakes in the company. New Amsterdam Partners LLC NY increased its holdings in shares of ONEOK by 0.6% in the second quarter. New Amsterdam Partners LLC NY now owns 9,367 shares of the utilities provider’s stock valued at $489,000 after purchasing an additional 58 shares during the period. Stephens Inc. AR increased its holdings in shares of ONEOK by 0.4% in the second quarter. Stephens Inc. AR now owns 15,430 shares of the utilities provider’s stock valued at $805,000 after purchasing an additional 58 shares during the period. Utah Retirement Systems increased its holdings in shares of ONEOK by 0.3% in the second quarter. Utah Retirement Systems now owns 38,294 shares of the utilities provider’s stock valued at $1,997,000 after purchasing an additional 100 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of ONEOK by 2.0% in the second quarter. Contravisory Investment Management Inc. now owns 5,034 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 101 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of ONEOK by 0.9% in the second quarter. Nations Financial Group Inc. IA ADV now owns 13,155 shares of the utilities provider’s stock valued at $686,000 after purchasing an additional 111 shares during the period. 57.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of ONEOK (OKE) traded up $0.02 during midday trading on Thursday, hitting $50.67. The stock had a trading volume of 1,522,177 shares, compared to its average volume of 2,472,027. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47. ONEOK has a 1-year low of $47.14 and a 1-year high of $59.47. The firm has a market cap of $19,428.74, a price-to-earnings ratio of 31.67, a PEG ratio of 3.66 and a beta of 1.29.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the business posted $0.43 EPS. sell-side analysts forecast that ONEOK will post 1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend was Friday, November 3rd. ONEOK’s payout ratio is currently 186.25%.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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