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.

Wall Street Analyst Weigh In

OKE has been the topic of several recent analyst reports. Mizuho increased their price objective on shares of ONEOK from $64.00 to $65.00 and gave the company a "neutral" rating in a research report on Wednesday, August 10th. Wells Fargo & Company reduced their price objective on shares of ONEOK to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, May 20th. Morgan Stanley reduced their price objective on shares of ONEOK from $81.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 20th. Raymond James raised their target price on shares of ONEOK from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, April 20th. Finally, US Capital Advisors reaffirmed an "overweight" rating on shares of ONEOK in a research note on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $68.42.

ONEOK Stock Performance

NYSE:OKE traded down $0.88 during trading hours on Monday, reaching $63.47. The stock had a trading volume of 81,212 shares, compared to its average volume of 2,828,724. The stock has a fifty day moving average of $58.59 and a 200 day moving average of $63.53. The stock has a market cap of $28.36 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 2.33 and a beta of 1.72. ONEOK has a 52-week low of $48.51 and a 52-week high of $75.07. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.62 and a current ratio of 0.83.

ONEOK (NYSE:OKE - Get Rating) last released its quarterly earnings data on Monday, August 8th. The utilities provider reported $0.92 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.02). The company had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.18 billion. ONEOK had a return on equity of 26.32% and a net margin of 7.37%. The company's revenue for the quarter was up 76.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. Sell-side analysts predict that ONEOK will post 3.66 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders 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 dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, July 29th. ONEOK's dividend payout ratio is presently 106.25%.

Insider Transactions at ONEOK

In related news, CEO Pierce Norton purchased 8,975 shares of ONEOK stock in a transaction on Friday, June 17th. The shares were bought at an average price of $55.54 per share, with a total value of $498,471.50. Following the transaction, the chief executive officer now directly owns 9,414 shares of the company's stock, valued at $522,853.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.65% of the company's stock.