Oneok Inc. (OKE) Given Average Rating of “Hold” by Brokerages
Shares of Oneok Inc. (NYSE:OKE) have received an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the firm. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $42.64.
Several equities analysts have recently commented on OKE shares. Jefferies Group restated a “hold” rating on shares of Oneok in a research report on Wednesday, August 3rd. Zacks Investment Research lowered shares of Oneok from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Royal Bank Of Canada lifted their price target on shares of Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, August 16th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 price target (up from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Finally, Morgan Stanley lowered shares of Oneok from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $48.00 to $50.00 in a report on Tuesday, October 4th. They noted that the move was a valuation call.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Oneok by 7.3% in the second quarter. Vanguard Group Inc. now owns 20,707,166 shares of the company’s stock worth $982,554,000 after buying an additional 1,401,380 shares during the last quarter. Riverhead Capital Management LLC increased its position in Oneok by 1,143.8% in the second quarter. Riverhead Capital Management LLC now owns 962,591 shares of the company’s stock worth $8,490,000 after buying an additional 885,199 shares during the last quarter. BlackRock Fund Advisors increased its position in Oneok by 7.3% in the third quarter. BlackRock Fund Advisors now owns 12,451,431 shares of the company’s stock worth $639,879,000 after buying an additional 846,397 shares during the last quarter. Bank of New York Mellon Corp increased its position in Oneok by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 4,038,472 shares of the company’s stock worth $191,625,000 after buying an additional 724,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Oneok during the third quarter worth about $36,425,000. Hedge funds and other institutional investors own 71.32% of the company’s stock.
Oneok (NYSE:OKE) traded down 0.767% during midday trading on Tuesday, reaching $52.415. 928,343 shares of the company’s stock traded hands. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 38.711 and a beta of 1.06. Oneok has a 1-year low of $18.84 and a 1-year high of $54.50. The stock’s 50 day moving average price is $49.80 and its 200 day moving average price is $47.30.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, November 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.45 by $0.02. Oneok had a net margin of 3.50% and a return on equity of 9.99%. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that Oneok will post $1.72 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were given a $0.615 dividend. The ex-dividend date was Thursday, October 27th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.66%. Oneok’s dividend payout ratio (DPR) is currently 182.22%.
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ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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