ONEOK, Inc. (NYSE:OKE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $101.00.

A number of analysts recently issued reports on the stock. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Citigroup increased their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently made changes to their positions in OKE. Kingswood Wealth Advisors LLC boosted its stake in shares of ONEOK by 3.7% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 12,578 shares of the utilities provider’s stock valued at $1,026,000 after buying an additional 443 shares during the last quarter. CWM LLC lifted its stake in ONEOK by 42.8% during the second quarter. CWM LLC now owns 53,688 shares of the utilities provider’s stock worth $4,378,000 after purchasing an additional 16,085 shares during the last quarter. Simplicity Wealth LLC lifted its stake in ONEOK by 3.9% during the second quarter. Simplicity Wealth LLC now owns 11,823 shares of the utilities provider’s stock worth $964,000 after purchasing an additional 442 shares during the last quarter. Strategic Advocates LLC lifted its stake in ONEOK by 11.8% during the second quarter. Strategic Advocates LLC now owns 4,608 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 488 shares during the last quarter. Finally, Accel Wealth Management lifted its stake in ONEOK by 30.4% during the second quarter. Accel Wealth Management now owns 4,674 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 1,090 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.7 %

NYSE OKE opened at $104.34 on Wednesday. ONEOK has a 12 month low of $65.49 and a 12 month high of $118.07. The company has a 50-day moving average of $102.71 and a 200-day moving average of $91.26. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $60.95 billion, a P/E ratio of 21.83, a P/E/G ratio of 5.49 and a beta of 1.69.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the company posted $0.99 EPS. As a group, equities analysts predict that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

ONEOK Company Profile

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.