ONEOK (NYSE:OKE) Hits New 52-Week Low - Time to Sell?

ONEOK, Inc. (NYSE:OKE - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $75.48 and last traded at $77.24, with a volume of 801974 shares. The stock had previously closed at $80.86.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKE. Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. 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 ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $105.00.

ONEOK Trading Up 1.5 %

The stock has a market cap of $51.49 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company's 50-day moving average price is $94.64 and its 200 day moving average price is $99.59. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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

ONEOK Increases Dividend

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

Hedge Funds Weigh In On ONEOK

Large investors have recently made changes to their positions in the stock. Kieckhefer Group LLC acquired a new position in ONEOK during the fourth quarter worth $30,000. Greenline Partners LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at $32,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the 4th quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK during the 4th quarter valued at about $39,000. Finally, Canton Hathaway LLC acquired a new position in ONEOK in the 4th quarter valued at about $40,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.