ONEOK (NYSE:OKE) Given New $93.00 Price Target at Wells Fargo & Company

ONEOK (NYSE:OKE) had its price objective lowered by Wells Fargo & Company from $102.00 to $93.00 in a research report report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

OKE has been the subject of a number of other reports. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Scotiabank decreased their target price on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.62.

ONEOK Stock Down 1.5 %

ONEOK stock opened at $80.91 on Thursday. The firm has a market cap of $50.54 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 3.77 and a beta of 1.20. The stock has a fifty day simple moving average of $90.93 and a two-hundred day simple moving average of $98.68. ONEOK has a 12 month low of $75.48 and a 12 month high of $118.07. 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 (NYSE:OKE) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the company posted $1.09 earnings per share. Equities analysts predict that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 5.09%. The ex-dividend date is Monday, May 5th. ONEOK’s dividend payout ratio is currently 79.69%.

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently bought and sold shares of the business. Astoria Portfolio Advisors LLC. increased its position in ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares in the last quarter. McAdam LLC increased its holdings in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC grew its holdings in ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after acquiring an additional 100 shares in the last quarter. Mutual Advisors LLC grew its holdings in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA boosted its holdings in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds 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.