ONEOK (NYSE:OKE) Given New $132.00 Price Target at UBS Group

ONEOK (NYSE:OKE - Free Report) had its price objective increased by UBS Group from $112.00 to $132.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the utilities provider's stock.

A number of other analysts have also recently weighed in on the stock. Barclays raised their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. Wells Fargo & Company increased their price target on shares of ONEOK from $100.00 to $107.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a research note on Friday, August 30th. Mizuho upgraded shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Finally, Tudor Pickering raised shares of ONEOK to a "hold" rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.38.

ONEOK Stock Performance

OKE traded up $1.93 on Friday, hitting $109.81. 3,474,293 shares of the company's stock were exchanged, compared to its average volume of 2,766,329. The firm has a market cap of $64.15 billion, a PE ratio of 22.77, a P/E/G ratio of 5.40 and a beta of 1.66. ONEOK has a twelve month low of $64.68 and a twelve month high of $110.05. The stock has a fifty day moving average of $96.17 and a two-hundred day moving average of $87.38. 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 (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the company posted $0.99 EPS. On average, research analysts anticipate that ONEOK will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. ONEOK's dividend payout ratio is currently 82.85%.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On ONEOK

Hedge funds have recently added to or reduced their stakes in the business. National Pension Service lifted its position in shares of ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock worth $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. lifted its position in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after purchasing an additional 5,175 shares during the period. Caxton Associates LP bought a new stake in shares of ONEOK in the 2nd quarter valued at $1,225,000. Point72 Europe London LLP bought a new stake in shares of ONEOK in the 2nd quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV increased its stake in shares of ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider's stock valued at $4,972,000 after acquiring an additional 5,451 shares in the last quarter. 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.