ONEOK (NYSE:OKE) Reaches New 1-Year High - Here's Why

ONEOK, Inc. (NYSE:OKE - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $107.53 and last traded at $107.11, with a volume of 16781 shares traded. The stock had previously closed at $107.16.

Analysts Set New Price Targets

Several equities research analysts have commented on OKE shares. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 16th. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price target for the company. Tudor Pickering upgraded ONEOK to a "hold" rating in a research note on Thursday, July 18th. 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. Finally, Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $96.92.

ONEOK Trading Up 1.8 %

The business has a 50 day simple moving average of $94.86 and a two-hundred day simple moving average of $86.71. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $63.71 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the business earned $0.99 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.63%. ONEOK's dividend payout ratio (DPR) is presently 82.85%.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on 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 at this link. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. National Pension Service lifted its holdings in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock worth $69,608,000 after buying an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. lifted its holdings in ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after buying an additional 5,175 shares during the last quarter. Caxton Associates LP bought a new position in ONEOK during the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP bought a new stake in shares of ONEOK in the 2nd quarter worth approximately $15,008,000. Finally, Sageworth Trust Co bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $568,000. Institutional investors own 69.13% of the company's stock.

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.