ONEOK (NYSE:OKE) Raised to Outperform at Wolfe Research

Wolfe Research upgraded shares of ONEOK (NYSE:OKE - Free Report) from a peer perform rating to an outperform rating in a report released on Monday morning, MarketBeat Ratings reports. They currently have $110.00 price objective on the utilities provider's stock.

OKE has been the topic of a number of other reports. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price target on the stock. Barclays began coverage on shares of ONEOK in a report on Thursday, February 6th. They issued an "equal weight" rating and a $105.00 price target on the stock. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Truist Financial upped their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada upped their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.92.

ONEOK Trading Up 1.3 %

OKE stock traded up $1.24 during mid-day trading on Monday, reaching $98.86. 4,336,496 shares of the stock traded hands, compared to its average volume of 4,040,992. The business has a 50-day moving average price of $102.23 and a two-hundred day moving average price of $97.94. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $57.75 billion, a PE ratio of 20.68, a PEG ratio of 3.67 and a beta of 1.70. ONEOK has a one year low of $68.65 and a one year high of $118.07.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK's dividend payout ratio is presently 86.19%.

Hedge Funds Weigh In On ONEOK

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Pension Service raised 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 valued at $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. raised 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 valued at $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position 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 purchasing an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC raised its position in shares of ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock valued at $2,208,000 after purchasing an additional 21,847 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in shares of ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock valued at $1,456,000 after purchasing an additional 5,321 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

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.