ONEOK, Inc. (NYSE:OKE) Given Average Rating of “Hold” by Brokerages

ONEOK, Inc. (NYSE:OKEGet Rating) has earned an average recommendation of “Hold” from the sixteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $67.29.

Several equities analysts have recently weighed in on the company. Raymond James raised their price target on ONEOK from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Truist Financial lifted their price objective on ONEOK from $72.00 to $78.00 in a report on Thursday, March 3rd. StockNews.com initiated coverage on ONEOK in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley lifted their price objective on ONEOK from $70.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Finally, Mizuho lifted their price objective on ONEOK from $61.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, March 2nd.

Shares of NYSE:OKE opened at $63.56 on Tuesday. ONEOK has a 1-year low of $48.51 and a 1-year high of $75.07. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.76 and a quick ratio of 0.55. The business has a fifty day moving average price of $67.84 and a 200-day moving average price of $64.04. The company has a market capitalization of $28.39 billion, a PE ratio of 18.86, a PEG ratio of 1.94 and a beta of 1.75.

ONEOK (NYSE:OKEGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.02). ONEOK had a net margin of 8.01% and a return on equity of 25.33%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, sell-side analysts anticipate that ONEOK will post 3.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Monday, May 2nd were given a dividend of $0.935 per share. The ex-dividend date was Friday, April 29th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 5.88%. ONEOK’s payout ratio is currently 110.98%.

In other news, Director Mark W. Helderman sold 30,000 shares of ONEOK stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $67.27, for a total transaction of $2,018,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of OKE. CVA Family Office LLC bought a new stake in ONEOK during the 4th quarter valued at approximately $28,000. Elmwood Wealth Management Inc. bought a new stake in ONEOK during the 4th quarter valued at approximately $29,000. City State Bank bought a new stake in ONEOK during the 4th quarter valued at approximately $29,000. Missouri Trust & Investment Co bought a new stake in ONEOK during the 4th quarter valued at approximately $30,000. Finally, Worth Asset Management LLC bought a new stake in ONEOK during the 1st quarter valued at approximately $30,000. 65.46% of the stock is currently owned by institutional investors.

About ONEOK (Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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