ONEOK (NYSE:OKE) Price Target Lowered to $100.00 at Scotiabank

ONEOK (NYSE:OKE) had its price objective cut by Scotiabank from $101.00 to $100.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on OKE. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Barclays cut their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Finally, Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.25.

ONEOK Stock Performance

OKE opened at $87.81 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a market cap of $54.85 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 3.77 and a beta of 1.20. The company’s 50 day moving average is $91.59 and its 200 day moving average is $98.91.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities research analysts predict that ONEOK will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth about $30,000. Greenline Partners LLC acquired a new position in ONEOK during the fourth quarter worth $32,000. First Pacific Financial acquired a new position in shares of ONEOK during the 1st quarter worth about $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK in the 4th quarter worth about $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $39,000. 69.13% of the stock is owned by institutional investors and hedge funds.

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.