ONEOK (NYSE:OKE) PT Raised to $85.00 at Mizuho

ONEOK (NYSE:OKE) had its price target hoisted by Mizuho from $81.00 to $85.00 in a report released on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the utilities provider’s stock.

A number of other equities research analysts have also issued reports on OKE. Wells Fargo & Company increased their target price on ONEOK from $81.00 to $85.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Stifel Nicolaus raised their price objective on ONEOK from $81.00 to $88.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Morgan Stanley raised their price objective on ONEOK from $90.00 to $93.00 and gave the company an equal weight rating in a research note on Monday, June 10th. StockNews.com upgraded ONEOK from a sell rating to a hold rating in a research note on Friday, May 17th. Finally, Tudor Pickering upgraded ONEOK to a hold rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $84.83.

ONEOK Stock Performance

ONEOK stock opened at $82.21 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. ONEOK has a 12 month low of $60.58 and a 12 month high of $86.20. The company has a market cap of $47.98 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 4.33 and a beta of 1.65. The stock’s 50-day moving average is $81.38 and its 200-day moving average is $77.78.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the firm earned $2.34 earnings per share. Equities analysts anticipate that ONEOK will post 5.06 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.82%. ONEOK’s payout ratio is 92.09%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in shares of ONEOK by 1.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 24,034 shares of the utilities provider’s stock worth $1,960,000 after acquiring an additional 342 shares in the last quarter. Callahan Advisors LLC grew its stake in ONEOK by 180.9% during the 2nd quarter. Callahan Advisors LLC now owns 10,517 shares of the utilities provider’s stock worth $858,000 after buying an additional 6,773 shares during the last quarter. ARK & TLK Investments LLC increased its position in ONEOK by 37.0% in the second quarter. ARK & TLK Investments LLC now owns 3,737 shares of the utilities provider’s stock worth $305,000 after buying an additional 1,010 shares during the period. Highview Capital Management LLC DE bought a new stake in ONEOK in the second quarter valued at $867,000. Finally, F M Investments LLC acquired a new position in shares of ONEOK during the second quarter valued at $1,500,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

About ONEOK

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.