ONEOK (NYSE:OKE) Reaches New 52-Week Low - What's Next?

Key Points

• ONEOK's share price reached a new 52-week low of $68.10 during trading, ending the day at $68.60.
• Several analysts have revised their price targets for ONEOK, with the average target now at $98.69, reflecting a mixed outlook on the stock.
• The company recently declared a $1.03 quarterly dividend, which will be paid on November 14th, offering a yield of 6.0% to shareholders.

ONEOK, Inc. (NYSE:OKE - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $68.10 and last traded at $68.60, with a volume of 637546 shares changing hands. The stock had previously closed at $68.92.

Analysts Set New Price Targets

Several equities analysts have commented on OKE shares. Royal Bank Of Canada lowered their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. TD Cowen started coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective for the company. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.69.

ONEOK Trading Down 1.0%

The stock has a 50-day simple moving average of $73.21 and a two-hundred day simple moving average of $79.46. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market cap of $42.95 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. 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 Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.0%. ONEOK's dividend payout ratio is presently 80.31%.

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of ONEOK by 20.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 290,937 shares of the utilities provider's stock valued at $28,867,000 after acquiring an additional 50,272 shares during the period. Ritholtz Wealth Management grew its stake in shares of ONEOK by 50.2% during the 1st quarter. Ritholtz Wealth Management now owns 3,549 shares of the utilities provider's stock valued at $352,000 after acquiring an additional 1,186 shares during the period. Sagespring Wealth Partners LLC grew its stake in shares of ONEOK by 40.5% during the 1st quarter. Sagespring Wealth Partners LLC now owns 7,122 shares of the utilities provider's stock valued at $707,000 after acquiring an additional 2,054 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of ONEOK by 5.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,467 shares of the utilities provider's stock valued at $741,000 after acquiring an additional 384 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.

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