ONEOK, Inc. (NYSE:OKE) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• ONEOK, Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average target price of $96.40 based on coverage from seventeen ratings firms.
• The company announced a quarterly dividend of $1.03 per share, representing an annualized yield of 6.0%, which will be paid on November 14, 2023.
• ONEOK reported a net income of $1.34 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and contributing to strong revenue of $8.21 billion.

ONEOK, Inc. (NYSE:OKE - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $96.40.

Several equities analysts recently issued reports on the company. Mizuho reduced their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of ONEOK in a research note on Wednesday, October 8th. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group assumed coverage on ONEOK in a research note on Tuesday, September 30th. They issued a "neutral" rating and a $75.00 target price on the stock.

ONEOK Stock Down 1.7%

Shares of NYSE:OKE opened at $68.60 on Friday. ONEOK has a 52-week low of $66.56 and a 52-week high of $118.07. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $43.20 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. The company has a 50 day moving average of $72.40 and a two-hundred day moving average of $78.42.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The firm had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same period last year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, analysts forecast that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Monday, November 3rd. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. City Holding Co. acquired a new position in shares of ONEOK during the third quarter valued at $28,000. Financial Network Wealth Advisors LLC increased its holdings in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares during the period. Global Wealth Strategies & Associates acquired a new position in shares of ONEOK during the third quarter valued at $29,000. MorganRosel Wealth Management LLC acquired a new position in shares of ONEOK during the first quarter valued at $39,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of ONEOK during the first quarter valued at $40,000. 69.13% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.