ONEOK (NYSE:OKE) PT Raised to $57.00

ONEOK (NYSE:OKE) had its price target upped by Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $49.00 to $57.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Other analysts have also recently issued reports about the company. TheStreet upgraded ONEOK from a c+ rating to a b- rating in a report on Wednesday, April 28th. Citigroup upped their target price on ONEOK from $49.00 to $57.00 and gave the company a neutral rating in a report on Tuesday. Raymond James upped their target price on ONEOK from $47.00 to $54.00 and gave the company an outperform rating in a report on Thursday, April 15th. Wells Fargo & Company upped their target price on ONEOK from $56.00 to $59.00 and gave the company an overweight rating in a report on Thursday, May 13th. Finally, Morgan Stanley upgraded ONEOK from an underweight rating to an equal weight rating and set a $55.00 target price on the stock in a report on Wednesday, May 26th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $44.59.

ONEOK stock opened at $54.78 on Tuesday. The firm has a 50 day moving average price of $52.64. ONEOK has a 1 year low of $23.28 and a 1 year high of $56.18. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.98 and a quick ratio of 0.72. The firm has a market capitalization of $24.41 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.70 and a beta of 2.01.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 27th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.09. ONEOK had a return on equity of 18.61% and a net margin of 11.88%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. As a group, equities research analysts predict that ONEOK will post 3.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Monday, April 26th were paid a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a yield of 6.83%. The ex-dividend date of this dividend was Friday, April 23rd. ONEOK’s dividend payout ratio (DPR) is presently 263.38%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Advisors Inc. OK lifted its position in shares of ONEOK by 7.5% during the first quarter. Capital Advisors Inc. OK now owns 59,739 shares of the utilities provider’s stock valued at $3,026,000 after purchasing an additional 4,165 shares in the last quarter. Pendal Group Limited purchased a new position in ONEOK during the first quarter worth about $1,242,000. B. Metzler seel. Sohn & Co. Holding AG boosted its holdings in ONEOK by 5.4% during the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 20,678 shares of the utilities provider’s stock worth $1,047,000 after purchasing an additional 1,063 shares during the last quarter. Axiom Investment Management LLC purchased a new position in ONEOK during the first quarter worth about $332,000. Finally, SkyView Investment Advisors LLC purchased a new position in ONEOK during the first quarter worth about $235,000. Hedge funds and other institutional investors own 63.97% of the company’s stock.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in 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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Analyst Recommendations for ONEOK (NYSE:OKE)

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