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

Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $101.00.

A number of analysts have commented on the stock. Wells Fargo & Company lowered shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Barclays upped their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective on the stock. US Capital Advisors upgraded ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Finally, Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd.

ONEOK Price Performance

ONEOK stock traded down $0.42 during mid-day trading on Friday, hitting $100.83. The company's stock had a trading volume of 1,928,269 shares, compared to its average volume of 2,820,768. The stock has a market capitalization of $58.90 billion, a P/E ratio of 21.09, a P/E/G ratio of 5.24 and a beta of 1.69. ONEOK has a twelve month low of $67.05 and a twelve month high of $118.07. The stock's fifty day moving average price is $104.56 and its two-hundred day moving average price is $93.42. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Research analysts forecast that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK's dividend payout ratio is 82.85%.

Hedge Funds Weigh In On ONEOK

Hedge funds have recently bought and sold shares of the business. HM Payson & Co. grew its holdings in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider's stock valued at $161,000 after purchasing an additional 105 shares during the last quarter. Claro Advisors LLC grew its stake in ONEOK by 1.6% in the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider's stock valued at $650,000 after buying an additional 115 shares during the last quarter. Haverford Trust Co raised its holdings in ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider's stock worth $917,000 after acquiring an additional 117 shares during the period. Johnson Investment Counsel Inc. lifted its position in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider's stock worth $1,111,000 after acquiring an additional 122 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in ONEOK by 1.1% during the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider's stock valued at $935,000 after acquiring an additional 122 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

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.