ONEOK (NYSE:OKE) Sets New 12-Month High - Still a Buy?

Key Points

• ONEOK shares reached a new 52-week high of $97.90 and last traded at $97.24, above the average analyst price target of $91.81.
• Analysts maintain a consensus “Moderate Buy” rating, although recent target-price changes were mixed; 1 analyst rates the stock a Strong Buy, 7 rate it a Buy, and 10 rate it a Hold.
• ONEOK exceeded quarterly earnings expectations, reporting $1.53 EPS versus the $1.46 consensus and $12.05 billion in revenue. It also pays a quarterly dividend of $1.07, or $4.28 annually, yielding approximately 4.4%.

ONEOK, Inc. (NYSE:OKE - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $97.90 and last traded at $97.24, with a volume of 297039 shares changing hands. The stock had previously closed at $95.32.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OKE. Barclays decreased their target price on shares of ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Morgan Stanley reaffirmed an "equal weight" rating and set a $103.00 target price (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. TD Cowen upped their price target on shares of ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Wall Street Zen upgraded ONEOK from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Raymond James Financial restated an "outperform" rating and set a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.81.

ONEOK Price Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The stock has a market capitalization of $60.90 billion, a P/E ratio of 16.65, a PEG ratio of 7.10 and a beta of 0.73. The stock's fifty day moving average is $89.62 and its 200-day moving average is $87.80.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.87 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, August 3rd. ONEOK's payout ratio is 73.79%.

Institutional Trading of ONEOK

Institutional investors and hedge funds have recently modified their holdings of the company. Zions Bancorporation National Association UT lifted its position in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after acquiring an additional 143 shares during the last quarter. Portus Wealth Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth about $33,000. Transamerica Financial Advisors LLC lifted its position in shares of ONEOK by 69.6% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock worth $32,000 after purchasing an additional 149 shares during the last quarter. Elyxium Wealth LLC bought a new stake in ONEOK during the 4th quarter valued at approximately $29,000. Finally, Wilkerson Advisory Group LLC grew its holdings in ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock valued at $35,000 after buying an additional 133 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

About ONEOK

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source