Barclays upgraded shares of ONEOK (NYSE:OKE) from an equal weight rating to an overweight rating in a research report released on Wednesday morning, MarketBeat Ratings reports. The firm currently has $67.00 target price on the utilities provider’s stock, up from their prior target price of $58.00.
Several other equities analysts have also commented on OKE. Mizuho started coverage on shares of ONEOK in a report on Tuesday, October 10th. They issued a neutral rating and a $59.00 price objective on the stock. Stifel Nicolaus restated a hold rating and issued a $54.00 price objective on shares of ONEOK in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of ONEOK from a hold rating to a strong-buy rating and set a $65.00 price objective on the stock in a report on Tuesday, October 17th. BMO Capital Markets set a $62.00 price objective on shares of ONEOK and gave the stock a buy rating in a report on Wednesday, October 18th. Finally, UBS Group upped their price objective on shares of ONEOK from $60.00 to $61.00 and gave the stock a buy rating in a report on Wednesday, November 1st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $59.93.
Shares of ONEOK (OKE) traded up $0.18 during mid-day trading on Wednesday, hitting $58.32. 8,660,000 shares of the stock traded hands, compared to its average volume of 2,825,444. 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 52-week low of $47.14 and a 52-week high of $60.06. The firm has a market cap of $23,938.96, a price-to-earnings ratio of 36.45, a P/E/G ratio of 2.19 and a beta of 1.25.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 EPS 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 company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. analysts forecast that ONEOK will post 1.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, January 26th. 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%. ONEOK’s dividend payout ratio is 186.25%.
In other ONEOK news, Director Brian L. Derksen bought 1,800 shares of ONEOK stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $51.00 per share, for a total transaction of $91,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Ropes Wealth Advisors LLC acquired a new stake in ONEOK during the 2nd quarter worth approximately $103,000. Winslow Evans & Crocker Inc. increased its position in shares of ONEOK by 462.9% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,620 shares during the last quarter. Mercer Capital Advisers Inc. increased its position in shares of ONEOK by 229.8% in the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 1,379 shares during the last quarter. Enterprise Financial Services Corp increased its position in shares of ONEOK by 332.8% in the 3rd quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of ONEOK in the 3rd quarter valued at approximately $150,000. Institutional investors own 69.94% of the company’s stock.
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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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