ONEOK (NYSE:OKE) Given New $102.00 Price Target at Scotiabank

ONEOK (NYSE:OKE - Free Report) had its price objective lowered by Scotiabank from $109.00 to $102.00 in a research note released on Thursday,Benzinga reports. The firm currently has a sector outperform rating on the utilities provider's stock.

A number of other brokerages have also commented on OKE. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 15th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Finally, Mizuho raised ONEOK to a "hold" rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average price target of $103.31.

ONEOK Stock Performance

NYSE OKE traded down $0.15 on Thursday, reaching $89.59. The stock had a trading volume of 4,076,012 shares, compared to its average volume of 4,086,271. 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 firm has a fifty day moving average of $100.00 and a two-hundred day moving average of $99.37. ONEOK has a 1-year low of $76.23 and a 1-year high of $118.07. The company has a market cap of $55.93 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.60%. ONEOK's dividend payout ratio (DPR) is 79.69%.

Institutional Trading of ONEOK

Several large investors have recently bought and sold shares of OKE. Robeco Institutional Asset Management B.V. boosted its stake in ONEOK by 50.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 151,844 shares of the utilities provider's stock valued at $13,838,000 after buying an additional 50,808 shares in the last quarter. QRG Capital Management Inc. raised its position in ONEOK by 6.5% in the third quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider's stock valued at $541,000 after purchasing an additional 364 shares during the last quarter. Crestwood Advisors Group LLC raised its position in ONEOK by 16.5% in the third quarter. Crestwood Advisors Group LLC now owns 7,670 shares of the utilities provider's stock valued at $699,000 after purchasing an additional 1,086 shares during the last quarter. Avidian Wealth Enterprises LLC raised its position in ONEOK by 19.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 10,569 shares of the utilities provider's stock valued at $963,000 after purchasing an additional 1,687 shares during the last quarter. Finally, Catalina Capital Group LLC raised its position in ONEOK by 5.7% in the third quarter. Catalina Capital Group LLC now owns 3,890 shares of the utilities provider's stock valued at $354,000 after purchasing an additional 210 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

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.