Citigroup Cuts ONEOK (NYSE:OKE) Price Target to $102.00

ONEOK (NYSE:OKE - Free Report) had its price target trimmed by Citigroup from $110.00 to $102.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the utilities provider's stock.

OKE has been the topic of a number of other reports. Scotiabank dropped their price target on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 29th. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average price target of $105.00.

ONEOK Stock Up 0.1 %

ONEOK stock traded up $0.08 during mid-day trading on Tuesday, hitting $82.33. The company had a trading volume of 2,884,754 shares, compared to its average volume of 3,248,639. The business has a fifty day moving average of $89.10 and a 200 day moving average of $98.06. The stock has a market cap of $51.43 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 3.77 and a beta of 1.01. 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.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.00%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Institutional Trading of ONEOK

Several institutional investors have recently modified their holdings of the stock. Astoria Portfolio Advisors LLC. grew its holdings in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after buying an additional 96 shares in the last quarter. McAdam LLC grew its position in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after buying an additional 100 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after acquiring an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA raised its stake in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

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.