ONEOK (NYSE:OKE) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of ONEOK (NYSE:OKE) from a sell rating to a hold rating in a research note issued to investors on Sunday.

A number of other brokerages have also recently commented on OKE. Citigroup lifted their price target on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Truist Financial raised their price objective on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $103.00 target price (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $91.81.

ONEOK Trading Down 0.1%

Shares of ONEOK stock opened at $86.33 on Friday. The firm’s 50 day simple moving average is $88.95 and its two-hundred day simple moving average is $87.13. The firm has a market capitalization of $54.42 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 4.50 and a beta of 0.73. ONEOK has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Analysts predict that ONEOK will post 5.87 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is currently 73.79%.

Hedge Funds Weigh In On ONEOK

Institutional investors and hedge funds have recently modified their holdings of the stock. Oxbow Advisors LLC raised its position in ONEOK by 3.3% during the second quarter. Oxbow Advisors LLC now owns 11,603 shares of the utilities provider’s stock valued at $1,009,000 after acquiring an additional 373 shares in the last quarter. Wealthfront Advisers LLC boosted its position in ONEOK by 117.2% in the 2nd quarter. Wealthfront Advisers LLC now owns 213,118 shares of the utilities provider’s stock worth $18,528,000 after purchasing an additional 114,987 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in ONEOK in the 2nd quarter worth approximately $204,672,000. Energy Income Partners LLC grew its stake in shares of ONEOK by 4.3% during the 2nd quarter. Energy Income Partners LLC now owns 1,761,507 shares of the utilities provider’s stock worth $153,145,000 after purchasing an additional 72,766 shares during the period. Finally, Meeder Advisory Services Inc. grew its stake in shares of ONEOK by 39.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 13,400 shares of the utilities provider’s stock worth $1,165,000 after purchasing an additional 3,821 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.