ONEOK, Inc. (NYSE:OKE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ONEOK, Inc. (NYSE:OKE) have earned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $105.00.

Several analysts have issued reports on the company. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays lowered their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Renaissance Investment Group LLC acquired a new stake in ONEOK in the first quarter worth approximately $5,472,000. Meeder Advisory Services Inc. boosted its stake in ONEOK by 15.5% during the first quarter. Meeder Advisory Services Inc. now owns 14,164 shares of the utilities provider’s stock valued at $1,405,000 after buying an additional 1,900 shares in the last quarter. Marco Investment Management LLC boosted its stake in ONEOK by 15.0% during the first quarter. Marco Investment Management LLC now owns 4,712 shares of the utilities provider’s stock valued at $468,000 after buying an additional 613 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in ONEOK during the first quarter worth about $238,000. Finally, Foundations Investment Advisors LLC raised its position in ONEOK by 13.2% in the first quarter. Foundations Investment Advisors LLC now owns 9,345 shares of the utilities provider’s stock worth $927,000 after acquiring an additional 1,087 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.2 %

Shares of OKE opened at $80.22 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK has a one year low of $75.48 and a one year high of $118.07. The stock has a 50-day moving average price of $89.62 and a 200 day moving average price of $98.26. The company has a market capitalization of $50.11 billion, a P/E ratio of 16.78, a P/E/G ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the firm posted $1.09 EPS. Sell-side analysts forecast that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.14%. ONEOK’s dividend payout ratio (DPR) is 80.47%.

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.