Brokerages Set ONEOK, Inc. (NYSE:OKE) Price Target at $102.92

ONEOK, Inc. (NYSE:OKE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $102.92.

Several research firms have recently commented on OKE. Barclays upped their price target on ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Mizuho raised shares of ONEOK to a "hold" rating in a report on Thursday, November 7th. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, US Capital Advisors upgraded shares of ONEOK from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th.

Institutional Trading of ONEOK

Institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its stake in shares of ONEOK by 37.1% during the second quarter. Canada Pension Plan Investment Board now owns 53,591 shares of the utilities provider's stock valued at $4,370,000 after purchasing an additional 14,505 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in ONEOK by 72.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,687 shares of the utilities provider's stock worth $224,000 after buying an additional 1,133 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in ONEOK by 5.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 101,515 shares of the utilities provider's stock worth $8,279,000 after buying an additional 4,880 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of ONEOK during the second quarter valued at about $16,046,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of ONEOK by 60.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,685 shares of the utilities provider's stock valued at $9,108,000 after acquiring an additional 42,133 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 1.3 %

OKE stock traded down $1.39 during midday trading on Thursday, reaching $104.91. 3,095,225 shares of the company were exchanged, compared to its average volume of 2,882,052. The stock's 50-day simple moving average is $106.17 and its 200 day simple moving average is $96.28. ONEOK has a 1-year low of $67.05 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market cap of $61.29 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 4.16 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts forecast that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is 82.85%.

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.