ONEOK - OKE Stock Forecast, Price & News

ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also gathers, treats, fractionates, and transports natural gas liquids (NGL), as well as stores, markets, and distributes NGL products. The company owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Missouri, Nebraska, Iowa, and Illinois; and NGL distribution and refined petroleum products pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, as well as owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, it operates regulated interstate and intrastate natural gas transmission pipelines and natural gas storage facilities. Further, the company owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space. It operates 17,500 miles of natural gas gathering pipelines; 1,500 miles of FERC-regulated interstate natural gas pipelines; 5,100 miles of state-regulated intrastate transmission pipeline; six NGL storage facilities; and eight NGL product terminals. It serves integrated and independent exploration and production companies; NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; propane distributors; municipalities; ethanol producers; and petrochemical, refining, and NGL marketing companies, as well as natural gas distribution and electric generation companies, producers, processors, and marketing companies. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.

ONEOK Price Performance

OKE Stock traded up $0.82 on Monday, reaching $59.37. 164,487 shares of the company's stock were exchanged, compared to its average volume of 2,833,993. The stock has a fifty day moving average of $59.03 and a 200-day moving average of $63.42. ONEOK has a twelve month low of $48.51 and a twelve month high of $75.07. The firm has a market cap of $26.52 billion, a PE ratio of 17.71, a P/E/G ratio of 2.12 and a beta of 1.72. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 2.13.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be issued a dividend of $0.935 per share. This represents a $3.74 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Friday, July 29th. ONEOK's dividend payout ratio is presently 110.98%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKE. Wells Fargo & Company reduced their price objective on ONEOK to $71.00 and set an "equal weight" rating for the company in a research note on Friday, May 20th. US Capital Advisors reiterated an "overweight" rating on shares of ONEOK in a research note on Wednesday, June 1st. Raymond James boosted their price objective on ONEOK from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, April 20th. Morgan Stanley reduced their price objective on ONEOK from $81.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 20th. Finally, Barclays reduced their price objective on ONEOK from $71.00 to $62.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, ONEOK has a consensus rating of "Hold" and an average price target of $68.25.

Insider Buying and Selling

In other ONEOK news, CEO Pierce Norton acquired 8,975 shares of the company's stock in a transaction that occurred on Friday, June 17th. The shares were purchased at an average price of $55.54 per share, with a total value of $498,471.50. Following the completion of the acquisition, the chief executive officer now directly owns 9,414 shares of the company's stock, valued at approximately $522,853.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is currently owned by corporate insiders.