ONEOK, Inc. (NYSE:OKE) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $105.00.

A number of brokerages recently weighed in on OKE. Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 target price for the company. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Finally, Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th.

Hedge Funds Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. FNY Investment Advisers LLC raised its position in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after acquiring an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $251,000. Sumitomo Mitsui Trust Group Inc. raised its stake in ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock valued at $155,038,000 after purchasing an additional 136,071 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in ONEOK in the 4th quarter valued at $9,483,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

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ONEOK Stock Up 1.5 %

ONEOK stock traded up $1.20 during trading hours on Tuesday, hitting $82.44. The stock had a trading volume of 3,777,706 shares, compared to its average volume of 3,159,477. The stock's 50-day moving average price is $94.64 and its 200-day moving average price is $99.59. ONEOK has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $51.49 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts anticipate that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.00%. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

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.