UBS Group Issues Positive Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its price objective raised by UBS Group from $112.00 to $132.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the company. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Truist Financial boosted their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Up 2.5 %

OKE opened at $112.51 on Friday. The firm has a market cap of $65.73 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business has a 50 day moving average price of $96.95 and a 200 day moving average price of $87.97. ONEOK has a twelve month low of $65.49 and a twelve month high of $112.93.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Research analysts forecast that ONEOK will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Institutional Trading of ONEOK

Hedge funds have recently modified their holdings of the company. National Pension Service raised its holdings in shares of ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. raised its stake in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the last quarter. Caxton Associates LP acquired a new position in shares of ONEOK during the second quarter worth approximately $1,225,000. Point72 Europe London LLP acquired a new stake in shares of ONEOK in the second quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV raised its position in ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.