ONEOK (NYSE:OKE) Research Coverage Started at Barclays

Barclays started coverage on shares of ONEOK (NYSE:OKE) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $94.00 price objective on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. UBS Group set a $93.00 price target on shares of ONEOK in a report on Friday, September 11th. Jefferies Financial Group set a $97.00 price objective on shares of ONEOK in a research report on Thursday, October 29th. Stifel Nicolaus set a $100.00 price objective on ONEOK in a report on Friday, October 9th. Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, TD Cowen reissued a “hold” rating on shares of ONEOK in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $99.55.

ONEOK Price Performance

ONEOK stock opened at $88.93 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.84 and a quick ratio of 0.66. The business has a 50 day simple moving average of $91.73 and a 200-day simple moving average of $89.15. ONEOK has a 12 month low of $68.20 and a 12 month high of $99.85. The stock has a market capitalization of $56.06 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.63. The firm had revenue of $12.46 billion for the quarter, compared to analyst estimates of $10.54 billion. ONEOK had a net margin of 9.42% and a return on equity of 16.36%. During the same period last year, the firm posted $1.49 EPS. Equities analysts predict that ONEOK will post 6.27 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, November 2nd. ONEOK’s dividend payout ratio (DPR) is currently 66.46%.

Institutional Trading of ONEOK

Institutional investors have recently added to or reduced their stakes in the stock. GTS Securities LLC raised its holdings in ONEOK by 4.3% during the second quarter. GTS Securities LLC now owns 2,573 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 105 shares during the last quarter. Meridian Wealth Management LLC boosted its position in shares of ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock worth $574,000 after buying an additional 115 shares in the last quarter. Clearstead Trust LLC boosted its position in shares of ONEOK by 4.7% in the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock worth $238,000 after buying an additional 117 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in ONEOK by 0.5% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock valued at $2,374,000 after acquiring an additional 122 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its stake in ONEOK by 2.1% in the 1st quarter. FAS Wealth Partners Inc. now owns 6,057 shares of the utilities provider’s stock valued at $548,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc. is a U.S. energy midstream company that gathers, processes, transports and stores natural gas and natural gas liquids (NGLs). Its services connect energy producers with processors, refineries, petrochemical facilities and other customers. The company operates natural gas gathering and processing systems, NGL pipelines and fractionation facilities, as well as crude oil and refined products transportation assets. Its operations span regions including the Permian Basin, the Mid-Continent, the Rocky Mountain area and the Gulf Coast.