Analysts Set ONEOK, Inc. (NYSE:OKE) PT at $105.62

Shares of ONEOK, Inc. (NYSE:OKE) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $105.00.

OKE has been the topic of several recent analyst reports. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Finally, Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th.

ONEOK Price Performance

Shares of NYSE OKE opened at $82.33 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The stock has a market cap of $51.43 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The stock has a fifty day moving average of $89.10 and a 200-day moving average of $98.05.

ONEOK (NYSE:OKE) last posted its earnings results 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the firm earned $1.09 EPS. Equities research analysts anticipate that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

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 $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.00%. ONEOK’s dividend payout ratio is currently 80.47%.

Institutional Investors Weigh In On ONEOK

Several institutional investors have recently bought and sold shares of OKE. Norges Bank purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $539,554,000. Vanguard Group Inc. grew its holdings in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the last quarter. Wellington Management Group LLP grew its holdings in ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock worth $422,373,000 after acquiring an additional 3,418,207 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after acquiring an additional 2,542,449 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock worth $280,194,000 after purchasing an additional 1,971,147 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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.