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

Key Points

• Brokerages have given ONEOK, Inc. a consensus rating of "Moderate Buy", with sixteen firms participating in the analysis and an average price target of $100.60.
• ONEOK reported $1.34 earnings per share for the last quarter, slightly exceeding the consensus estimate of $1.33, alongside revenues of $8.21 billion, surpassing expectations.
• The company declared a quarterly dividend of $1.03 per share, resulting in an annualized yield of 5.6%, with a payout ratio of 80.31%.

ONEOK, Inc. (NYSE:OKE - Get Free Report) has been given a consensus rating of "Moderate Buy" by the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $100.60.

A number of brokerages have recently commented on OKE. Barclays set a $83.00 price target on shares of ONEOK in a report on Thursday, August 14th. Royal Bank Of Canada cut their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Mizuho reduced their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday, August 29th. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st.

ONEOK Stock Performance

Shares of OKE stock opened at $73.01 on Tuesday. The business's 50-day moving average price is $75.38 and its 200-day moving average price is $81.57. ONEOK has a 12 month low of $70.63 and a 12 month high of $118.07. The firm has a market capitalization of $45.98 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.81 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Equities research analysts forecast that ONEOK will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Institutional Trading of ONEOK

A number of large investors have recently bought and sold shares of OKE. Brighton Jones LLC grew its stake in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. Versant Capital Management Inc boosted its holdings in shares of ONEOK by 140.0% during the 1st quarter. Versant Capital Management Inc now owns 1,260 shares of the utilities provider's stock worth $125,000 after buying an additional 735 shares in the last quarter. GAMMA Investing LLC grew its position in shares of ONEOK by 9,596.3% during the 1st quarter. GAMMA Investing LLC now owns 1,189,251 shares of the utilities provider's stock worth $117,997,000 after buying an additional 1,176,986 shares during the period. Summit Global Investments increased its stake in shares of ONEOK by 10.9% in the 1st quarter. Summit Global Investments now owns 2,685 shares of the utilities provider's stock valued at $266,000 after acquiring an additional 263 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of ONEOK by 13.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,824 shares of the utilities provider's stock valued at $776,000 after acquiring an additional 941 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.

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