ONEOK, Inc. (NYSE:OKE - Get Free Report)'s stock price reached a new 52-week high on Monday after UBS Group raised their price target on the stock from $112.00 to $132.00. UBS Group currently has a buy rating on the stock. ONEOK traded as high as $111.15 and last traded at $111.15, with a volume of 88100 shares traded. The stock had previously closed at $109.81.
A number of other equities research analysts have also recently commented on the stock. Barclays increased their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a report on Monday, November 4th. Tudor Pickering raised shares of ONEOK to a "hold" rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 16th. Finally, Mizuho upgraded ONEOK to a "hold" rating in a research report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus target price of $100.38.
Check Out Our Latest Research Report on OKE
Insider Transactions at ONEOK
In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.
Hedge Funds Weigh In On ONEOK
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Geode Capital Management LLC grew its position in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider's stock worth $554,158,000 after acquiring an additional 232,043 shares during the last quarter. Janus Henderson Group PLC lifted its stake in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock worth $341,844,000 after acquiring an additional 11,189 shares in the last quarter. Finally, Energy Income Partners LLC boosted its holdings in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider's stock valued at $275,362,000 after purchasing an additional 319,487 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.
ONEOK Stock Performance
The stock has a 50 day simple moving average of $96.54 and a two-hundred day simple moving average of $87.72. The company has a market capitalization of $65.73 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 5.48 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.
ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm earned $0.99 earnings per share. As a group, analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.
ONEOK Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK's payout ratio is 82.85%.
About ONEOK
(
Get Free Report)
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.
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