ONEOK, Inc. (NYSE:OKE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been given an average rating of “Moderate Buy” by the sixteen research firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $101.00.

Several research analysts have weighed in on OKE shares. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a report on Wednesday, December 18th. Finally, UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

Hedge Funds Weigh In On ONEOK

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the third quarter valued at about $47,957,000. Bahl & Gaynor Inc. boosted its position in ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after purchasing an additional 501,216 shares during the period. Finally, Yaupon Capital Management LP purchased a new position in shares of ONEOK in the third quarter worth about $45,194,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $102.90 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average price is $104.99 and its 200-day moving average price is $94.00. The firm has a market capitalization of $60.11 billion, a P/E ratio of 21.53, a P/E/G ratio of 5.24 and a beta of 1.69. ONEOK has a 1-year low of $67.05 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the company posted $0.99 earnings per share. Equities research analysts anticipate that ONEOK will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.