ONEOK, Inc. (NYSE:OKE) Receives $88.00 Average PT from Analysts

ONEOK, Inc. (NYSE:OKE) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $88.00.

OKE has been the topic of several analyst reports. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Thursday, November 6th. Wells Fargo & Company dropped their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Citigroup reduced their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price objective (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd.

Insiders Place Their Bets

In other news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares in the company, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently made changes to their positions in OKE. Advisors Management Group Inc. ADV grew its holdings in shares of ONEOK by 13.3% in the 3rd quarter. Advisors Management Group Inc. ADV now owns 81,715 shares of the utilities provider’s stock valued at $5,963,000 after buying an additional 9,588 shares during the period. Alternative Investment Advisors LLC. raised its stake in ONEOK by 1.4% during the 3rd quarter. Alternative Investment Advisors LLC. now owns 12,649 shares of the utilities provider’s stock worth $923,000 after buying an additional 170 shares during the period. Saranac Partners Ltd bought a new position in ONEOK during the third quarter worth about $94,000. Severin Investments LLC lifted its holdings in ONEOK by 55.5% during the third quarter. Severin Investments LLC now owns 5,474 shares of the utilities provider’s stock worth $399,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Allworth Financial LP grew its stake in ONEOK by 5.2% in the third quarter. Allworth Financial LP now owns 129,417 shares of the utilities provider’s stock valued at $9,444,000 after acquiring an additional 6,368 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

Shares of OKE stock opened at $71.66 on Friday. The firm has a market cap of $45.09 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 4.46 and a beta of 0.95. ONEOK has a 12 month low of $64.02 and a 12 month high of $111.02. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock has a 50-day moving average price of $70.27 and a 200 day moving average price of $74.96.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts expect that ONEOK will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

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.