Shares of ONEOK, Inc. (NYSE:OKE) have received an average rating of “Hold” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $52.15.
OKE has been the topic of a number of recent analyst reports. Sanford C. Bernstein upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating and set a $66.00 price objective on the stock in a research note on Thursday, September 23rd. Credit Suisse Group lifted their target price on ONEOK from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, August 9th. Morgan Stanley lifted their target price on ONEOK from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 26th. Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating and set a $56.00 target price on the stock. in a report on Friday, July 23rd. Finally, Bank of America started coverage on ONEOK in a report on Tuesday, September 28th. They set a “neutral” rating on the stock.
Institutional investors have recently made changes to their positions in the company. Corsicana & Co. acquired a new stake in shares of ONEOK during the 2nd quarter valued at about $28,000. O Shaughnessy Asset Management LLC lifted its holdings in ONEOK by 32.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 190 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in ONEOK in the 3rd quarter worth approximately $39,000. Evermay Wealth Management LLC acquired a new stake in ONEOK in the 2nd quarter worth approximately $42,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in ONEOK by 2,187.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 915 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 875 shares during the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. ONEOK had a net margin of 11.90% and a return on equity of 22.30%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $4.01 billion. On average, sell-side analysts anticipate that ONEOK will post 3.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were given a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.74 dividend on an annualized basis and a yield of 5.91%. ONEOK’s payout ratio is presently 263.38%.
ONEOK Company Profile
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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