ONEOK (NYSE:OKE) Given New $91.00 Price Target at Barclays

ONEOK (NYSE:OKE) had its target price lowered by Barclays from $101.00 to $91.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

OKE has been the topic of several other reports. Scotiabank reduced their price objective on ONEOK from $100.00 to $96.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, May 20th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company cut their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. 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 report on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.69.

ONEOK Stock Performance

NYSE OKE opened at $81.10 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $50.66 billion, a P/E ratio of 16.97, a P/E/G ratio of 3.77 and a beta of 0.94. The stock has a 50-day moving average of $83.85 and a two-hundred day moving average of $95.59. ONEOK has a 1-year low of $75.48 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the firm posted $1.09 EPS. As a group, analysts anticipate that ONEOK will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.08%. ONEOK’s dividend payout ratio is presently 80.47%.

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently made changes to their positions in OKE. Sumitomo Mitsui Trust Group Inc. increased its position in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after buying an additional 136,071 shares during the period. Cinctive Capital Management LP purchased a new stake in ONEOK in the 4th quarter valued at $19,909,000. Americana Partners LLC boosted its stake in ONEOK by 258.6% during the 4th quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider’s stock worth $27,292,000 after purchasing an additional 196,038 shares during the period. Cbre Investment Management Listed Real Assets LLC acquired a new stake in ONEOK during the 4th quarter worth $34,360,000. Finally, Dynamic Technology Lab Private Ltd grew its position in ONEOK by 41.8% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider’s stock worth $1,546,000 after purchasing an additional 4,538 shares during the last quarter. 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.