ONEOK (NYSE:OKE) Price Target Raised to $113.00 at Morgan Stanley

ONEOK (NYSE:OKE) had its price objective boosted by Morgan Stanley from $104.00 to $113.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other analysts have also recently issued reports on OKE. Mizuho set a $89.00 target price on ONEOK in a research report on Monday, February 23rd. Truist Financial began coverage on ONEOK in a research report on Tuesday, March 24th. They issued a “hold” rating and a $91.00 target price for the company. Jefferies Financial Group raised ONEOK from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $98.00 in a research report on Friday, March 20th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $87.00 to $83.00 in a research report on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.50.

ONEOK Trading Up 2.3%

NYSE:OKE opened at $90.52 on Tuesday. The stock has a 50-day simple moving average of $85.70 and a 200-day simple moving average of $76.69. The stock has a market cap of $57.03 billion, a P/E ratio of 16.70, a P/E/G ratio of 6.70 and a beta of 0.84. ONEOK has a 1 year low of $64.02 and a 1 year high of $95.30. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period in the prior year, the firm earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts anticipate that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. ONEOK’s dividend payout ratio (DPR) is currently 78.97%.

Hedge Funds Weigh In On ONEOK

Large investors have recently modified their holdings of the business. Brighton Jones LLC increased its stake in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Empowered Funds LLC increased its stake in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares in the last quarter. Acadian Asset Management LLC purchased a new position in ONEOK in the 1st quarter valued at approximately $216,000. EverSource Wealth Advisors LLC increased its stake in ONEOK by 5.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,744 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 209 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in ONEOK by 14.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.