ONEOK (NYSE:OKE) Hits New 12-Month High – Should You Buy?

ONEOK, Inc. (NYSE:OKE)’s stock price hit a new 52-week high on Monday . The company traded as high as $98.21 and last traded at $98.20, with a volume of 80286 shares. The stock had previously closed at $97.23.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays raised their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Citigroup increased their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Stock Performance

The stock has a market cap of $56.95 billion, a P/E ratio of 21.24, a PEG ratio of 4.82 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company has a fifty day moving average of $91.79 and a 200 day moving average of $84.71.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the business earned $1.04 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is 86.27%.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On ONEOK

Large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in ONEOK during the 2nd quarter valued at approximately $28,000. Matrix Trust Co acquired a new position in ONEOK in the 3rd quarter valued at approximately $29,000. Ridgewood Investments LLC bought a new position in ONEOK in the second quarter worth $31,000. Manchester Capital Management LLC increased its stake in ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 182 shares during the period. Finally, Beacon Capital Management LLC raised its position in ONEOK by 56.9% in the first quarter. Beacon Capital Management LLC now owns 640 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 232 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.