ONEOK (NYSE:OKE) Hits New 12-Month High at $86.40

ONEOK, Inc. (NYSE:OKE) reached a new 52-week high during trading on Wednesday . The company traded as high as $86.40 and last traded at $85.97, with a volume of 449097 shares traded. The stock had previously closed at $85.74.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price target on shares of ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.50.

ONEOK Stock Up 0.6 %

The firm’s 50-day moving average price is $82.22 and its 200 day moving average price is $78.91. The firm has a market cap of $51.08 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 4.54 and a beta of 1.65. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm posted $1.04 EPS. As a group, research analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.53%. ONEOK’s dividend payout ratio is presently 92.09%.

Hedge Funds Weigh In On ONEOK

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in ONEOK in the 1st quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK in the 1st quarter valued at about $26,000. Quest Partners LLC purchased a new stake in ONEOK during the second quarter valued at about $28,000. Ridgewood Investments LLC purchased a new stake in ONEOK during the second quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC purchased a new stake in ONEOK during the fourth quarter valued at about $32,000. Institutional investors own 69.13% of the company’s stock.

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.