ONEOK (OKE) Receives “Buy” Rating from BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of ONEOK (NYSE:OKE) in a research report sent to investors on Tuesday. The firm currently has a $64.00 price target on the utilities provider’s stock.

Several other equities analysts have also recently issued reports on the company. UBS Group raised their price objective on ONEOK from $60.00 to $61.00 and gave the stock a buy rating in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a hold rating and issued a $55.00 target price on shares of ONEOK in a research note on Friday, November 3rd. Zacks Investment Research upgraded ONEOK from a sell rating to a hold rating in a research note on Friday, December 22nd. Mizuho started coverage on ONEOK in a research note on Tuesday, October 10th. They issued a neutral rating and a $59.00 target price on the stock. Finally, Bank of America started coverage on ONEOK in a research note on Tuesday, January 9th. They issued a neutral rating on the stock. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $59.93.

ONEOK (OKE) traded up $0.18 on Tuesday, reaching $58.32. 8,657,039 shares of the company were exchanged, compared to its average volume of 3,060,000. The firm has a market cap of $22,360.00, a P/E ratio of 36.45, a PEG ratio of 2.18 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. ONEOK has a 12-month low of $47.14 and a 12-month high of $60.06.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same quarter last year, the company posted $0.43 earnings per share. analysts expect that ONEOK will post 1.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, January 29th will be issued a dividend of $0.77 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Friday, January 26th. ONEOK’s payout ratio is presently 186.25%.

In other news, Director Brian L. Derksen bought 1,800 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in OKE. Vanguard Group Inc. boosted its position in ONEOK by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after acquiring an additional 4,002,795 shares during the period. State Street Corp boosted its position in ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after acquiring an additional 6,086,061 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in ONEOK by 269.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock worth $739,659,000 after acquiring an additional 9,737,701 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in ONEOK by 184.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock worth $525,098,000 after acquiring an additional 6,148,494 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in ONEOK by 3.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock worth $520,782,000 after acquiring an additional 300,031 shares during the period. 69.94% of the stock is currently owned by hedge funds and other institutional investors.

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About ONEOK

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.

Analyst Recommendations for ONEOK (NYSE:OKE)

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