Brokerages Set ONEOK, Inc. (NYSE:OKE) PT at $83.58

Shares of ONEOK, Inc. (NYSE:OKE) have received an average rating of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $83.58.

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Citigroup upped their target price on ONEOK from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. upped their target price on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th.

ONEOK Stock Down 1.6 %

ONEOK stock opened at $81.66 on Friday. The business has a fifty day moving average of $79.57 and a two-hundred day moving average of $73.32. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a market cap of $47.66 billion, a P/E ratio of 18.99, a P/E/G ratio of 4.43 and a beta of 1.64. ONEOK has a twelve month low of $56.19 and a twelve month high of $83.31.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the prior year, the firm posted $2.34 earnings per share. On average, analysts forecast that ONEOK will post 4.94 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is currently 92.09%.

Insider Transactions at ONEOK

In other news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sheets Smith Wealth Management lifted its stake in ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after buying an additional 139 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in ONEOK by 5.3% in the 1st quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after buying an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in ONEOK by 4.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock valued at $256,000 after buying an additional 144 shares in the last quarter. Presima Securities ULC raised its holdings in ONEOK by 1.7% in the 4th quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock valued at $639,000 after acquiring an additional 150 shares during the last quarter. Finally, Regal Investment Advisors LLC raised its holdings in ONEOK by 3.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after acquiring an additional 159 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile

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.