Shares of ONEOK, Inc. (NYSE:OKE - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $89.21 and traded as high as $90.15. ONEOK shares last traded at $89.76, with a volume of 2,819,005 shares.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on OKE. Truist Financial lifted their target price on ONEOK from $104.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 30th. Freedom Capital upgraded shares of ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Scotiabank raised their price objective on shares of ONEOK from $96.00 to $97.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 3rd. Freedom Broker boosted their target price on ONEOK from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, November 2nd. Finally, Capital One Financial began coverage on ONEOK in a report on Tuesday, September 22nd. They set an "overweight" rating and a $110.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and a consensus price target of $99.55.
Get Our Latest Stock Report on OKE
ONEOK Price Performance
The stock has a 50 day moving average of $91.61 and a two-hundred day moving average of $89.21. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.84. The firm has a market capitalization of $56.59 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.61 and a beta of 0.77.
ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.63. ONEOK had a return on equity of 16.36% and a net margin of 9.42%. The company had revenue of $12.46 billion during the quarter, compared to analyst estimates of $10.54 billion. During the same period in the previous year, the company earned $1.49 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 6.27 earnings per share for the current fiscal year.
ONEOK Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, November 2nd. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK's payout ratio is currently 66.46%.
Institutional Trading of ONEOK
Several hedge funds have recently added to or reduced their stakes in OKE. Saudi Central Bank boosted its stake in shares of ONEOK by 89.9% in the 2nd quarter. Saudi Central Bank now owns 44,102 shares of the utilities provider's stock valued at $3,834,000 after purchasing an additional 20,876 shares in the last quarter. Empowered Funds LLC raised its position in ONEOK by 21.8% in the 2nd quarter. Empowered Funds LLC now owns 73,242 shares of the utilities provider's stock worth $6,368,000 after purchasing an additional 13,103 shares during the period. The Manufacturers Life Insurance Company lifted its stake in ONEOK by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 798,176 shares of the utilities provider's stock worth $69,393,000 after purchasing an additional 15,796 shares during the last quarter. State Street Corp lifted its stake in ONEOK by 5.0% in the second quarter. State Street Corp now owns 43,633,749 shares of the utilities provider's stock worth $3,793,518,000 after purchasing an additional 2,059,368 shares during the last quarter. Finally, Matrix Trust Co bought a new stake in ONEOK in the second quarter worth $1,245,000. Institutional investors and hedge funds own 69.13% of the company's stock.
About ONEOK
(
Get Free Report)
ONEOK, Inc. is a U.S. energy midstream company that gathers, processes, transports and stores natural gas and natural gas liquids (NGLs). Its services connect energy producers with processors, refineries, petrochemical facilities and other customers. The company operates natural gas gathering and processing systems, NGL pipelines and fractionation facilities, as well as crude oil and refined products transportation assets. Its operations span regions including the Permian Basin, the Mid-Continent, the Rocky Mountain area and the Gulf Coast.
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