Brokerages Set ONEOK, Inc. (NYSE:OKE) PT at $82.25

Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) have received a consensus recommendation of "Hold" from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $82.25.

Several brokerages have recently weighed in on OKE. UBS Group increased their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Seaport Res Ptn upgraded ONEOK from a "neutral" rating to a "buy" rating in a research report on Thursday, February 8th. Raymond James lifted their target price on ONEOK from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, January 19th. US Capital Advisors lowered ONEOK from an "overweight" rating to a "hold" rating in a research note on Wednesday, March 20th. Finally, Barclays boosted their price target on ONEOK from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, March 7th.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.44 during mid-day trading on Tuesday, reaching $80.35. The company had a trading volume of 1,889,364 shares, compared to its average volume of 3,014,661. The company's 50-day moving average price is $76.94 and its 200-day moving average price is $71.29. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK has a one year low of $55.91 and a one year high of $80.84. The firm has a market cap of $46.90 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 4.87 and a beta of 1.65.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter last year, the firm posted $1.08 earnings per share. As a group, equities research analysts anticipate that ONEOK will post 4.99 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.93%. The ex-dividend date is Tuesday, April 30th. ONEOK's payout ratio is currently 71.35%.

ONEOK announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company's stock, valued at $203,175. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On ONEOK

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of ONEOK during the 1st quarter worth $25,000. Peoples Bank KS acquired a new stake in shares of ONEOK in the third quarter worth $25,000. American National Bank acquired a new stake in shares of ONEOK in the first quarter worth $32,000. Beacon Capital Management LLC boosted its position in shares of ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider's stock worth $29,000 after buying an additional 194 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK in the fourth quarter worth $32,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.