ONEOK (OKE) Upgraded by Barclays to Overweight
Barclays upgraded shares of ONEOK (NYSE:OKE) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, Marketbeat.com reports. The brokerage currently has $67.00 target price on the utilities provider’s stock, up from their prior target price of $58.00.
Several other equities analysts also recently issued reports on OKE. Mizuho initiated coverage on ONEOK in a research report on Tuesday, October 10th. They issued a neutral rating and a $59.00 target price on the stock. Stifel Nicolaus reissued a hold rating and issued a $54.00 target price on shares of ONEOK in a research report on Thursday, October 12th. Zacks Investment Research raised ONEOK from a hold rating to a strong-buy rating and set a $65.00 price target on the stock in a research report on Tuesday, October 17th. BMO Capital Markets set a $62.00 price target on ONEOK and gave the stock a buy rating in a research report on Wednesday, October 18th. Finally, UBS Group increased their price target on ONEOK from $60.00 to $61.00 and gave the stock a buy rating in a research report on Wednesday, November 1st. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. ONEOK currently has a consensus rating of Buy and a consensus price target of $59.93.
ONEOK (NYSE OKE) traded down $1.27 during midday trading on Wednesday, hitting $58.14. The company had a trading volume of 3,440,000 shares, compared to its average volume of 3,060,000. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. ONEOK has a 52-week low of $47.14 and a 52-week high of $60.06. The firm has a market cap of $22,290.00, a P/E ratio of 36.34, a price-to-earnings-growth ratio of 2.23 and a beta of 1.26.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th will be given a dividend of $0.77 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 5.30%. The ex-dividend date is Friday, January 26th. ONEOK’s dividend payout ratio (DPR) is currently 186.25%.
In related news, Director Brian L. Derksen purchased 1,800 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $51.00 per share, with a total value of $91,800.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of OKE. JPMorgan Chase & Co. boosted its stake in shares of ONEOK by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 260,577 shares of the utilities provider’s stock worth $13,590,000 after acquiring an additional 56,231 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of ONEOK by 16.7% during the 2nd quarter. Teachers Advisors LLC now owns 351,852 shares of the utilities provider’s stock worth $18,353,000 after acquiring an additional 50,453 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of ONEOK by 215.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 511,848 shares of the utilities provider’s stock worth $26,657,000 after acquiring an additional 349,745 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of ONEOK by 173.1% during the 2nd quarter. Nationwide Fund Advisors now owns 165,331 shares of the utilities provider’s stock worth $8,624,000 after acquiring an additional 104,789 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of ONEOK by 71.8% during the 2nd quarter. Amalgamated Bank now owns 27,225 shares of the utilities provider’s stock worth $1,420,000 after acquiring an additional 11,375 shares in the last quarter. 69.94% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “ONEOK (OKE) Upgraded by Barclays to Overweight” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.thecerbatgem.com/2018/01/19/oneok-oke-upgraded-by-barclays-to-overweight.html.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.