ONEOK, Inc. (NYSE:OKE) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• ONEOK, Inc. has received a consensus recommendation of "Moderate Buy" from 16 brokerages, with an average 1-year price target of $104.57.
• The company reported a 1.34 EPS for the last quarter, exceeding estimates, and has declared a quarterly dividend of $1.03 with a yield of 5.5%.
• Hedge funds and institutional investors hold 69.13% of ONEOK's stock, with several recently increasing their stakes in the company.

Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $104.5714.

A number of brokerages recently issued reports on OKE. Barclays reduced their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Citigroup reduced their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. Finally, Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th.

Hedge Funds Weigh In On ONEOK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. Greenline Partners LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at $32,000. First Pacific Financial acquired a new stake in ONEOK during the 1st quarter worth $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the 4th quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK during the 4th quarter worth $39,000. Finally, Financial Network Wealth Advisors LLC raised its stake in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 1.3%

Shares of NYSE:OKE opened at $74.53 on Monday. ONEOK has a 1 year low of $74.23 and a 1 year high of $118.07. The business has a 50 day simple moving average of $80.95 and a two-hundred day simple moving average of $87.39. The firm has a market capitalization of $46.94 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 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 during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the company posted $1.33 EPS. On average, equities analysts predict that ONEOK will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

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.

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