ONEOK, Inc. (NYSE:OKE) Stock Has Consensus Target Price of $98.70 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on ONEOK: 9 rate it a buy, 1 a strong buy, and 11 a hold. The average 12-month price target is $98.70.
• ONEOK reported quarterly EPS of $2.13, beating the $1.50 consensus, and revenue of $12.46 billion versus estimates of $10.54 billion.
• The company declared a quarterly dividend of $1.07 per share, equivalent to $4.28 annually and a 4.7% yield at the time of the report.

Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-one brokerages that are covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $98.70.

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of ONEOK from $98.00 to $106.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. decreased their price objective on ONEOK from $106.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Barclays lowered their price objective on ONEOK from $90.00 to $88.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 8th. Scotiabank increased their target price on ONEOK from $96.00 to $97.00 and gave the stock a "sector perform" rating in a report on Tuesday. Finally, Freedom Capital raised ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th.

ONEOK Stock Down 0.6%

Shares of OKE stock opened at $91.93 on Wednesday. ONEOK has a one year low of $64.02 and a one year high of $99.85. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.84 and a quick ratio of 0.66. The stock has a fifty day moving average price of $92.82 and a 200 day moving average price of $88.76. The stock has a market cap of $57.96 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.77.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.63. ONEOK had a net margin of 9.42% and a return on equity of 16.36%. The firm had revenue of $12.46 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same quarter in the previous year, the firm posted $1.49 EPS. Analysts predict that ONEOK will post 6.18 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. ONEOK's dividend payout ratio (DPR) is presently 66.46%.

Institutional Investors Weigh In On ONEOK

Large investors have recently made changes to their positions in the company. Formidable Asset Management LLC grew its stake in ONEOK by 14.2% in the third quarter. Formidable Asset Management LLC now owns 19,294 shares of the utilities provider's stock valued at $1,677,000 after purchasing an additional 2,400 shares in the last quarter. Focused Wealth Management Inc increased its position in shares of ONEOK by 6.4% during the 3rd quarter. Focused Wealth Management Inc now owns 4,358 shares of the utilities provider's stock worth $372,000 after purchasing an additional 263 shares during the last quarter. Rakuten Investment Management Inc. raised its stake in shares of ONEOK by 9.8% during the 3rd quarter. Rakuten Investment Management Inc. now owns 113,123 shares of the utilities provider's stock worth $9,826,000 after purchasing an additional 10,075 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in shares of ONEOK by 482.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 13,783 shares of the utilities provider's stock worth $1,175,000 after purchasing an additional 11,418 shares in the last quarter. Finally, Sawyer & Company Inc bought a new stake in shares of ONEOK during the 3rd quarter worth approximately $102,000. Institutional investors own 69.13% of the company's stock.

About ONEOK

ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.

ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.

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