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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley lowered their price target on ONEOK from $81.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 20th. US Capital Advisors reissued an "overweight" rating on shares of ONEOK in a research note on Wednesday, June 1st. Wells Fargo & Company cut their target price on ONEOK to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, May 20th. Barclays cut their target price on ONEOK from $71.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 20th. Finally, Raymond James increased their price target on ONEOK from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, April 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $68.25.

ONEOK Price Performance

Shares of OKE Stock traded up $1.52 during trading hours on Tuesday, reaching $60.73. 48,190 shares of the company were exchanged, compared to its average volume of 2,426,272. The stock's fifty day moving average is $58.88 and its two-hundred day moving average is $63.43. ONEOK has a fifty-two week low of $48.51 and a fifty-two week high of $75.07. The company has a market cap of $27.12 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 2.12 and a beta of 1.72. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.76 and a quick ratio of 0.55.

ONEOK (NYSE:OKE - Get Rating) last announced its quarterly earnings results on Monday, August 8th. The utilities provider reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.94 by ($0.02). ONEOK had a net margin of 8.01% and a return on equity of 25.33%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business's revenue was up 76.9% compared to the same quarter last year. Sell-side analysts forecast that ONEOK will post 3.65 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, August 15th. Shareholders of record on Monday, August 1st will be paid a dividend of $0.935 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $3.74 dividend on an annualized basis and a yield of 6.16%. ONEOK's dividend payout ratio (DPR) is presently 110.98%.

Insider Transactions at ONEOK

In other news, CEO Pierce Norton purchased 8,975 shares of the stock in a transaction dated Friday, June 17th. The shares were purchased at an average cost of $55.54 per share, with a total value of $498,471.50. Following the completion of the acquisition, the chief executive officer now owns 9,414 shares in the company, valued at approximately $522,853.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.65% of the company's stock.