Analysts Set ONEOK, Inc. (NYSE:OKE) Price Target at $103.31

ONEOK, Inc. (NYSE:OKE) has been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $103.31.

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd.

ONEOK Trading Up 0.7 %

NYSE:OKE opened at $100.75 on Friday. The company’s 50 day moving average is $98.99 and its 200-day moving average is $99.75. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK has a 12 month low of $76.23 and a 12 month high of $118.07. The firm has a market cap of $62.90 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Equities analysts anticipate that ONEOK will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.09%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Hedge Funds Weigh In On ONEOK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. boosted its holdings in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares in the last quarter. McAdam LLC boosted its stake in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC grew its holdings in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares during the last quarter. Mutual Advisors LLC increased its stake in shares of ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after buying an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA raised its holdings in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after buying an additional 104 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.