Brokerages Set ONEOK, Inc. (OKE) PT at $70.06

Shares of ONEOK, Inc. (NYSE:OKE) have received a consensus recommendation of “Buy” from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $70.31.

OKE has been the topic of a number of research reports. US Capital Advisors restated a “buy” rating on shares of ONEOK in a research report on Tuesday, July 17th. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Friday, July 20th. Jefferies Financial Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Tuesday, October 16th. Seaport Global Securities upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, October 19th. Finally, ValuEngine upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, October 19th.

ONEOK stock opened at $62.53 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.74. ONEOK has a 1 year low of $49.65 and a 1 year high of $71.99. The stock has a market cap of $25.72 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.39 and a beta of 0.91.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company posted $0.43 EPS. On average, analysts forecast that ONEOK will post 2.83 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be given a $0.855 dividend. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.47%. This is an increase from ONEOK’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, November 2nd. ONEOK’s dividend payout ratio (DPR) is currently 187.50%.

In other news, Director Brian L. Derksen purchased 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were acquired at an average cost of $67.60 per share, for a total transaction of $101,400.00. Following the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at approximately $344,760. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Several large investors have recently made changes to their positions in OKE. Principal Financial Group Inc. raised its position in shares of ONEOK by 26.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,172,259 shares of the utilities provider’s stock valued at $66,725,000 after acquiring an additional 247,125 shares during the period. Brown Advisory Inc. raised its holdings in ONEOK by 8.9% during the 1st quarter. Brown Advisory Inc. now owns 21,913 shares of the utilities provider’s stock worth $1,247,000 after buying an additional 1,800 shares during the period. Gulf International Bank UK Ltd raised its holdings in ONEOK by 12.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 131,740 shares of the utilities provider’s stock worth $9,199,000 after buying an additional 14,600 shares during the period. DnB Asset Management AS raised its holdings in ONEOK by 8.5% during the 2nd quarter. DnB Asset Management AS now owns 50,892 shares of the utilities provider’s stock worth $3,554,000 after buying an additional 4,000 shares during the period. Finally, Clinton Group Inc. acquired a new stake in ONEOK during the 2nd quarter worth approximately $258,000. Institutional investors and hedge funds own 73.29% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

See Also: Bear Market – How and Why They Occur

Analyst Recommendations for ONEOK (NYSE:OKE)

Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply