ONEOK (NYSE:OKE) Given New $102.00 Price Target at Citigroup

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

A number of other research firms have also recently issued reports on OKE. Morgan Stanley raised their price objective 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 price target for the company in a research note on Monday, February 10th. Scotiabank lowered their price objective on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 29th. Stifel Nicolaus dropped their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $105.00.

ONEOK Stock Performance

NYSE OKE traded up $0.07 during midday trading on Tuesday, hitting $82.32. The company had a trading volume of 976,137 shares, compared to its average volume of 3,229,583. The firm has a fifty day simple moving average of $89.33 and a two-hundred day simple moving average of $98.16. 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 stock has a market cap of $51.42 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 3.77 and a beta of 1.01. ONEOK has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion during 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 period in the prior year, the business earned $1.09 EPS. Equities analysts forecast 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 issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently modified their holdings of OKE. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $30,000. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth $32,000. First Pacific Financial purchased a new stake in ONEOK during the first quarter worth about $34,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK in the 4th quarter valued at approximately $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK in the 4th quarter valued at about $39,000. 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.