ONEOK (NYSE:OKE) had its price objective boosted by Argus to $82.00 in a report issued on Tuesday, The Fly reports. Argus currently has an average rating on the utilities provider’s stock.
Several other research analysts have also weighed in on OKE. Raymond James lowered ONEOK from a strong-buy rating to an outperform rating in a report on Tuesday, April 16th. Seaport Global Securities lowered ONEOK from a buy rating to a neutral rating and set a $69.07 target price on the stock. in a report on Monday, April 22nd. Mitsubishi UFJ Financial Group lifted their target price on ONEOK to $77.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Zacks Investment Research lowered ONEOK from a buy rating to a hold rating in a report on Monday, May 20th. Finally, Citigroup boosted their price target on ONEOK from $67.00 to $77.00 and gave the company a buy rating in a report on Thursday, May 2nd. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ONEOK currently has a consensus rating of Hold and an average price target of $72.06.
OKE stock opened at $69.05 on Tuesday. The business’s 50-day simple moving average is $69.20. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.87 and a beta of 1.17. ONEOK has a 1-year low of $50.26 and a 1-year high of $72.38.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, sell-side analysts expect that ONEOK will post 3.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Monday, August 5th. This is an increase from ONEOK’s previous quarterly dividend of $0.87. ONEOK’s payout ratio is 128.06%.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of ONEOK by 7.9% in the first quarter. BlackRock Inc. now owns 44,615,090 shares of the utilities provider’s stock valued at $3,115,917,000 after buying an additional 3,261,539 shares during the period. Geode Capital Management LLC increased its holdings in ONEOK by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock valued at $287,526,000 after purchasing an additional 415,385 shares during the period. Northern Trust Corp increased its holdings in ONEOK by 6.4% in the first quarter. Northern Trust Corp now owns 4,943,927 shares of the utilities provider’s stock valued at $345,285,000 after purchasing an additional 295,729 shares during the period. Clearbridge Investments LLC grew its holdings in ONEOK by 2.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,125,678 shares of the utilities provider’s stock worth $218,297,000 after acquiring an additional 83,906 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 4.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,106,877 shares of the utilities provider’s stock worth $213,785,000 after acquiring an additional 136,866 shares during the period. Institutional investors own 74.52% of the company’s stock.
ONEOK, Inc, together with its subsidiaries, engages in the 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.
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