Brokerages Set ONEOK, Inc. (NYSE:OKE) PT at $100.60

Key Points

• ONEOK, Inc. has received a consensus rating of "Moderate Buy" from analysts, with six hold ratings, nine buy ratings, and one strong buy rating.
• The company's shares experienced a recent price target adjustment, with Mizuho lowering their target from $87.00 to $82.00 and Royal Bank of Canada reducing theirs from $94.00 to $88.00.
• ONEOK announced a quarterly dividend of $1.03 per share, equating to an annualized dividend of $4.12 and a dividend yield of 5.5%.

Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) have been given an average rating of "Moderate Buy" by the sixteen research firms that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $100.60.

Several brokerages have recently weighed in on OKE. Morgan Stanley decreased their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Mizuho decreased their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Barclays set a $83.00 price objective on shares of ONEOK in a research report on Thursday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada lowered their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th.

ONEOK Trading Up 1.9%

OKE traded up $1.40 during trading on Friday, hitting $73.24. 3,402,724 shares of the company's stock were exchanged, compared to its average volume of 3,209,773. 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 has a 1 year low of $70.63 and a 1 year high of $118.07. The stock has a 50 day moving average price of $77.52 and a 200 day moving average price of $83.67. The firm has a market cap of $46.12 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04.

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

ONEOK Announces Dividend

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

Hedge Funds Weigh In On ONEOK

A number of hedge funds have recently bought and sold shares of the company. Greenline Partners LLC bought a new position in ONEOK during the 4th quarter worth approximately $32,000. First Pacific Financial bought a new position in ONEOK during the first quarter worth $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK in the fourth quarter worth $37,000. Financial Network Wealth Advisors LLC boosted its holdings in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares during the period. Finally, MorganRosel Wealth Management LLC bought a new stake in ONEOK during the first quarter valued at $39,000. 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.