ONEOK, Inc. (NYSE:OKE) Receives $85.00 Consensus PT from Brokerages

Shares of ONEOK, Inc. (NYSE:OKE) have earned an average rating of “Hold” from the eighteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $85.00.

Several research firms have issued reports on OKE. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Stifel Nicolaus raised their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley raised their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th.

Hedge Funds Weigh In On ONEOK

Institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in ONEOK during the 1st quarter worth about $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK during the 1st quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the 2nd quarter valued at about $31,000. HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK during the 4th quarter valued at about $32,000. Finally, American National Bank acquired a new stake in ONEOK in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 2.0 %

OKE stock opened at $78.60 on Thursday. The firm has a market cap of $45.87 billion, a PE ratio of 18.07, a P/E/G ratio of 4.37 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The firm’s fifty day moving average is $81.43 and its 200 day moving average is $78.12. ONEOK has a one year low of $60.58 and a one year high of $86.20.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter last year, the firm earned $1.04 EPS. On average, research analysts forecast that ONEOK will post 5.02 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Thursday, August 1st. ONEOK’s payout ratio is currently 92.09%.

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.