Scotiabank Issues Positive Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its target price lifted by Scotiabank from $91.00 to $92.00 in a research note released on Monday,Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

Several other analysts also recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Barclays boosted their price objective on ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Royal Bank Of Canada boosted their price objective on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a report on Thursday, March 19th. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Finally, UBS Group cut their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.69.

ONEOK Price Performance

NYSE OKE opened at $85.20 on Monday. The stock’s 50-day moving average price is $86.34 and its two-hundred day moving average price is $77.06. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The company has a market cap of $53.68 billion, a PE ratio of 15.72, a PEG ratio of 6.52 and a beta of 0.84. ONEOK has a 1 year low of $64.02 and a 1 year high of $95.30.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same quarter in the previous year, the company earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, analysts predict that ONEOK will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. This is a boost 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 annualized dividend and a yield of 5.0%. ONEOK’s dividend payout ratio (DPR) is presently 78.97%.

Hedge Funds Weigh In On ONEOK

Institutional investors and hedge funds have recently bought and sold shares of the business. Zions Bancorporation National Association UT grew its stake in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Winnow Wealth LLC purchased a new position in ONEOK during the 3rd quarter valued at about $28,000. City Holding Co. purchased a new position in ONEOK during the 3rd quarter valued at about $28,000. Elyxium Wealth LLC bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $29,000. Finally, Global Wealth Strategies & Associates bought a new stake in shares of ONEOK in the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

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.