Analysts Set ONEOK, Inc. (NYSE:OKE) Price Target at $105.62

ONEOK, Inc. (NYSE:OKE - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $105.62.

A number of equities research analysts have commented on OKE shares. Morgan Stanley upped their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday. Finally, US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently modified their holdings of OKE. Vanguard Group Inc. lifted its stake in shares of ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock valued at $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after acquiring an additional 357,015 shares in the last quarter. Northern Trust Corp boosted its stake in ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock valued at $656,200,000 after purchasing an additional 864,392 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of ONEOK in the fourth quarter worth approximately $539,554,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 3.2 %

Shares of OKE stock traded down $2.65 during mid-day trading on Friday, reaching $80.14. 3,588,631 shares of the stock traded hands, compared to its average volume of 3,217,561. The stock's fifty day simple moving average is $90.67 and its two-hundred day simple moving average is $98.63. ONEOK has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $50.05 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the company posted $1.09 earnings per share. On average, research analysts anticipate that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.14%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

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.