ONEOK (NYSE:OKE) Price Target Raised to $102.00

ONEOK (NYSE:OKE) had its price objective lifted by Citigroup from $85.00 to $102.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

OKE has been the subject of a number of other research reports. Scotiabank upped their price target on ONEOK from $88.00 to $102.00 and gave the stock a sector outperform rating in a research report on Friday, August 30th. Tudor Pickering raised ONEOK to a hold rating in a research report on Thursday, July 18th. StockNews.com raised ONEOK from a sell rating to a hold rating in a research report on Friday, May 17th. Royal Bank of Canada upped their price target on ONEOK from $84.00 to $89.00 and gave the stock a sector perform rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price objective on ONEOK from $91.00 to $100.00 and gave the stock an overweight rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $89.92.

ONEOK Price Performance

Shares of OKE opened at $91.06 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The stock has a 50 day simple moving average of $85.25 and a 200 day simple moving average of $81.13. ONEOK has a 52-week low of $60.58 and a 52-week high of $93.00. The firm has a market capitalization of $53.15 billion, a PE ratio of 21.18, a P/E/G ratio of 3.66 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. Sell-side analysts predict that ONEOK will post 5.05 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Institutional Investors Weigh In On ONEOK

Large investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new stake in ONEOK in the 1st quarter valued at $25,000. LifeSteps Financial Inc. bought a new stake in ONEOK in the 1st quarter valued at $26,000. Quest Partners LLC bought a new stake in ONEOK in the 2nd quarter valued at $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the 2nd quarter worth $31,000. Finally, American National Bank bought a new position in ONEOK during the 1st quarter worth $32,000. 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.