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

Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $103.31.

OKE has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target for the company. Barclays lowered their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Scotiabank cut their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Finally, Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd.

ONEOK Price Performance

NYSE OKE traded up $1.98 during trading hours on Friday, reaching $98.41. The company's stock had a trading volume of 2,851,829 shares, compared to its average volume of 2,828,334. ONEOK has a 1-year low of $76.23 and a 1-year high of $118.07. The firm has a market capitalization of $61.44 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company's 50-day moving average is $99.21 and its two-hundred day moving average is $99.65.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.19%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is currently 79.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OKE. Kieckhefer Group LLC purchased a new position in ONEOK during the 4th quarter valued at about $30,000. Greenline Partners LLC acquired a new position in ONEOK in the 4th quarter valued at $32,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK during the fourth quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK in the 4th quarter worth about $39,000. Finally, Canton Hathaway LLC acquired a new position in ONEOK during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 69.13% of the company's stock.

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.