ONEOK, Inc. (NYSE:OKE) Given Consensus Recommendation of “Hold” by Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus rating of “Hold” by the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $85.00.

A number of research analysts recently weighed in on OKE shares. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus boosted their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial boosted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th.

ONEOK Stock Performance

ONEOK stock opened at $78.60 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $81.43 and a 200-day moving average of $78.12. The firm has a market cap of $45.87 billion, a P/E ratio of 18.07, a P/E/G ratio of 4.37 and a beta of 1.65. ONEOK has a 1-year low of $60.58 and a 1-year high of $86.20.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the prior year, the business earned $1.04 earnings per share. Sell-side analysts expect that ONEOK will post 5.02 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hilltop Holdings Inc. raised its position in ONEOK by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after acquiring an additional 1,124 shares in the last quarter. Fifth Third Bancorp increased its stake in ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after purchasing an additional 3,032 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in ONEOK by 26.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 5,167 shares in the last quarter. Federated Hermes Inc. increased its stake in ONEOK by 31.6% in the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock worth $11,277,000 after purchasing an additional 38,560 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in ONEOK by 11.6% in the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after purchasing an additional 21,657 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Company Profile

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.