ONEOK (NYSE:OKE) Rating Increased to Hold at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of ONEOK (NYSE:OKE) to a hold rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on OKE. Barclays set a $83.00 target price on ONEOK in a report on Thursday, August 14th. Raymond James Financial reaffirmed an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a “sector outperform” rating in a report on Tuesday, July 15th. Morgan Stanley dropped their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $99.00.

ONEOK Stock Performance

Shares of OKE stock opened at $72.99 on Monday. The business’s 50-day moving average price is $75.23 and its 200-day moving average price is $81.51. ONEOK has a 12 month low of $70.63 and a 12 month high of $118.07. The firm has a market capitalization of $45.97 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.79 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period in the previous year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts forecast that ONEOK will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. ONEOK’s dividend payout ratio (DPR) is presently 80.31%.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently modified their holdings of the business. Rydar Equities Inc. purchased a new stake in ONEOK during the 2nd quarter worth approximately $345,000. Summit Financial Wealth Advisors LLC boosted its holdings in shares of ONEOK by 2,352.7% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 92,051 shares of the utilities provider’s stock worth $7,514,000 after purchasing an additional 88,298 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of ONEOK by 13.7% during the 2nd quarter. Corient Private Wealth LLC now owns 193,495 shares of the utilities provider’s stock worth $15,795,000 after purchasing an additional 23,330 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $299,000. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of ONEOK by 59.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 11,305 shares of the utilities provider’s stock worth $923,000 after purchasing an additional 4,217 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

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.