Analysts Set ONEOK, Inc. (NYSE:OKE) Price Target at $96.92

ONEOK, Inc. (NYSE:OKE - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $96.92.

OKE has been the subject of a number of analyst reports. Royal Bank of Canada lifted 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. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Mizuho raised their price objective on ONEOK from $81.00 to $85.00 and gave the company a "neutral" rating in a research note on Friday, July 26th. Finally, Truist Financial upped their target price on ONEOK from $83.00 to $99.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider's stock worth $554,158,000 after acquiring an additional 232,043 shares during the period. First Eagle Investment Management LLC lifted its stake in ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider's stock worth $277,795,000 after purchasing an additional 378,509 shares during the period. Energy Income Partners LLC boosted its holdings in ONEOK by 10.3% during the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider's stock valued at $275,362,000 after purchasing an additional 319,487 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider's stock valued at $272,377,000 after purchasing an additional 132,326 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake 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 purchasing an additional 3,197,121 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 2.9 %

OKE stock traded up $3.02 during midday trading on Friday, reaching $107.16. The company had a trading volume of 3,580,082 shares, compared to its average volume of 2,621,994. The company has a 50 day moving average of $94.86 and a two-hundred day moving average of $86.63. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK has a 1 year low of $63.77 and a 1 year high of $107.19. The company has a market capitalization of $62.60 billion, a P/E ratio of 22.42, a PEG ratio of 5.10 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). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates 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 business posted $0.99 EPS. On average, equities research analysts expect that ONEOK will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.70%. ONEOK's dividend payout ratio is 82.85%.

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.