Scotiabank Has Lowered Expectations for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE - Free Report) had its price objective trimmed by Scotiabank from $101.00 to $100.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the utilities provider's stock.

A number of other analysts have also recently issued reports on the company. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research 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 price target for the company in a research report on Monday, February 10th. Morgan Stanley lifted their price objective 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. Finally, Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They set a "buy" rating and a $110.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.62.

ONEOK Stock Up 2.3 %

OKE traded up $1.84 on Tuesday, reaching $82.77. The company's stock had a trading volume of 5,505,793 shares, compared to its average volume of 3,216,069. 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 has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The stock has a 50 day moving average of $90.67 and a two-hundred day moving average of $98.62. The company has a market capitalization of $51.70 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 3.77 and a beta of 1.20.

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

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.98%. ONEOK's dividend payout ratio is presently 79.69%.

Institutional Trading of ONEOK

Institutional investors have recently added to or reduced their stakes in the stock. Morse Asset Management Inc purchased a new position in ONEOK in the 3rd quarter valued at approximately $346,000. Barclays PLC increased its position in shares of ONEOK by 16.1% in the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider's stock valued at $172,131,000 after buying an additional 262,486 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of ONEOK during the 3rd quarter worth $2,258,000. Fulcrum Equity Management boosted its position in shares of ONEOK by 1.1% in the 3rd quarter. Fulcrum Equity Management now owns 46,681 shares of the utilities provider's stock worth $4,254,000 after buying an additional 526 shares in the last quarter. Finally, World Investment Advisors LLC grew its stake in ONEOK by 154.1% in the 3rd quarter. World Investment Advisors LLC now owns 10,522 shares of the utilities provider's stock valued at $959,000 after acquiring an additional 6,381 shares during the last quarter. 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.