ONEOK (NYSE:OKE) Given New $84.00 Price Target at Royal Bank Of Canada

ONEOK (NYSE:OKE) had its target price lifted by Royal Bank Of Canada from $79.00 to $84.00 in a research note published on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the utilities provider’s stock.

Several other analysts have also recently commented on the stock. Jefferies Financial Group began coverage on shares of ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 target price for the company. Scotiabank restated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Wolfe Research cut ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Finally, UBS Group cut their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.33.

ONEOK Stock Up 2.4%

Shares of NYSE OKE opened at $88.27 on Thursday. The firm has a market capitalization of $55.59 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 6.56 and a beta of 0.93. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. ONEOK has a 1 year low of $64.02 and a 1 year high of $103.64. The firm’s 50-day moving average is $81.76 and its 200-day moving average is $75.08.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s payout ratio is currently 78.97%.

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital International Investors bought a new position in shares of ONEOK during the 4th quarter worth approximately $586,500,000. Norges Bank bought a new stake in shares of ONEOK in the fourth quarter worth $564,867,000. First Eagle Investment Management LLC lifted its position in shares of ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Boston Partners boosted its holdings in ONEOK by 53.7% during the second quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after purchasing an additional 1,924,864 shares during the last quarter. Finally, Danske Bank A S grew its position in ONEOK by 3,538.4% in the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock valued at $124,320,000 after purchasing an additional 1,644,945 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.