Tudor Pickering started coverage on shares of ONEOK (NYSE:OKE) in a research report sent to investors on Friday morning, The Fly reports. The firm issued a buy rating and a $74.00 target price on the utilities provider’s stock.
Other analysts have also issued research reports about the stock. Argus raised their target price on shares of ONEOK to $82.00 and gave the company an average rating in a research report on Tuesday, August 6th. Raymond James cut their target price on shares of ONEOK from $74.00 to $73.00 and set an outperform rating on the stock in a research report on Wednesday, October 23rd. Barclays set a $79.00 price target on shares of ONEOK and gave the stock a hold rating in a report on Tuesday, October 15th. Zacks Investment Research lowered shares of ONEOK from a buy rating to a hold rating and set a $81.00 price target on the stock. in a report on Wednesday, September 18th. Finally, Mitsubishi UFJ Financial Group lifted their price target on shares of ONEOK to $77.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $74.71.
ONEOK stock traded up $0.71 during mid-day trading on Friday, reaching $70.48. The company had a trading volume of 1,716,742 shares, compared to its average volume of 1,912,538. ONEOK has a fifty-two week low of $50.26 and a fifty-two week high of $77.21. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.01. The company has a market cap of $29.68 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.20 and a beta of 1.13. The business has a fifty day simple moving average of $71.29 and a 200 day simple moving average of $69.30.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business posted $0.75 earnings per share. Research analysts forecast that ONEOK will post 3.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Friday, November 1st. This is a positive change from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s payout ratio is 131.65%.
Several large investors have recently modified their holdings of OKE. Vanguard Group Inc. lifted its holdings in ONEOK by 1.6% in the second quarter. Vanguard Group Inc. now owns 46,629,850 shares of the utilities provider’s stock valued at $3,208,599,000 after buying an additional 739,353 shares during the period. Northern Trust Corp lifted its holdings in ONEOK by 1.5% in the second quarter. Northern Trust Corp now owns 5,017,875 shares of the utilities provider’s stock valued at $345,281,000 after buying an additional 73,948 shares during the period. Invesco Ltd. lifted its holdings in ONEOK by 19.6% in the second quarter. Invesco Ltd. now owns 3,333,770 shares of the utilities provider’s stock valued at $229,398,000 after buying an additional 546,731 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in ONEOK by 4.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,106,877 shares of the utilities provider’s stock valued at $213,785,000 after buying an additional 136,866 shares during the period. Finally, Morgan Stanley lifted its holdings in ONEOK by 5.3% in the second quarter. Morgan Stanley now owns 3,067,584 shares of the utilities provider’s stock valued at $211,081,000 after buying an additional 155,444 shares during the period. Institutional investors own 74.40% of the company’s stock.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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