ONEOK, Inc. (NYSE:OKE - Get Free Report) reached a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $94.00 to $99.00. Barclays currently has an equal weight rating on the stock. ONEOK traded as high as $98.49 and last traded at $98.35, with a volume of 744106 shares trading hands. The stock had previously closed at $95.64.
A number of other research firms also recently issued reports on OKE. Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a research report on Friday, August 30th. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a "buy" rating and a $105.00 price objective for the company. Truist Financial boosted their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Royal Bank of Canada raised their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $96.92.
Read Our Latest Stock Report on ONEOK
Insider Buying and Selling at ONEOK
In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.
Institutional Trading of ONEOK
Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock valued at $294,440,000 after buying an additional 3,197,121 shares in the last quarter. M&G Plc bought a new stake in ONEOK during the first quarter worth $77,634,000. Kayne Anderson Capital Advisors LP boosted its holdings in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider's stock valued at $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider's stock valued at $41,995,000 after purchasing an additional 501,216 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of ONEOK by 370.1% during the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider's stock worth $49,327,000 after buying an additional 484,403 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.
ONEOK Trading Up 3.1 %
The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average of $93.80 and a two-hundred day moving average of $86.07. The firm has a market capitalization of $57.61 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.98 and a beta of 1.66.
ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.16 EPS for the current year.
ONEOK Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Friday, November 1st. ONEOK's dividend payout ratio (DPR) is currently 82.85%.
ONEOK Company Profile
(
Get Free Report)
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.
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