ONEOK (NYSE:OKE) PT Raised to $88.00 at Stifel Nicolaus

ONEOK (NYSE:OKE) had its price objective increased by Stifel Nicolaus from $81.00 to $88.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other research firms also recently commented on OKE. Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a neutral rating in a report on Wednesday, March 20th. Seaport Res Ptn upgraded shares of ONEOK from a neutral rating to a buy rating in a research note on Thursday, February 8th. US Capital Advisors lowered shares of ONEOK from an overweight rating to a hold rating in a research note on Wednesday, March 20th. Wolfe Research upgraded shares of ONEOK from an underperform rating to a peer perform rating in a research note on Wednesday, January 10th. Finally, Raymond James boosted their target price on shares of ONEOK from $80.00 to $85.00 and gave the company an outperform rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $82.25.

ONEOK Stock Up 2.2 %

Shares of NYSE:OKE opened at $79.63 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $76.74 and a 200 day simple moving average of $71.03. The firm has a market cap of $46.48 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 4.76 and a beta of 1.65. ONEOK has a 12-month low of $55.91 and a 12-month high of $80.81.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter last year, the firm posted $1.08 EPS. On average, equities research analysts anticipate that ONEOK will post 4.99 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.97%. ONEOK’s dividend payout ratio is currently 71.35%.

ONEOK declared that its board has approved a stock repurchase program on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith bought 2,700 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On ONEOK

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp grew its position in ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after buying an additional 3,032 shares in the last quarter. ELCO Management Co. LLC grew its position in ONEOK by 102.3% in the 3rd quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock valued at $1,677,000 after buying an additional 13,367 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in ONEOK by 11.4% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock valued at $490,000 after acquiring an additional 790 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in ONEOK by 1.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,780 shares of the utilities provider’s stock valued at $2,460,000 after acquiring an additional 581 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in ONEOK by 32.1% in the 4th quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock valued at $5,084,000 after acquiring an additional 17,612 shares during the last quarter. Institutional investors 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.