Seaport Global Securities started coverage on shares of ONEOK (NYSE:OKE) in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $60.00 price target on the utilities provider’s stock.
A number of other equities research analysts also recently weighed in on OKE. TheStreet raised shares of ONEOK from a c+ rating to a b- rating in a research note on Tuesday, April 10th. Zacks Investment Research downgraded shares of ONEOK from a buy rating to a hold rating in a research note on Wednesday, April 11th. Jefferies Group raised shares of ONEOK from a hold rating to a buy rating in a research note on Tuesday, March 20th. Stifel Nicolaus reissued a hold rating and set a $61.00 price target (up from $55.00) on shares of ONEOK in a research note on Wednesday, February 28th. Finally, Robert W. Baird set a $55.00 price target on shares of ONEOK and gave the stock a hold rating in a research note on Wednesday, February 28th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $61.13.
OKE opened at $59.54 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.66 and a debt-to-equity ratio of 1.42. The company has a market cap of $24,568.25, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 2.47 and a beta of 1.22. ONEOK has a fifty-two week low of $47.14 and a fifty-two week high of $61.36.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be issued a dividend of $0.795 per share. The ex-dividend date of this dividend is Friday, April 27th. This represents a $3.18 dividend on an annualized basis and a yield of 5.34%. This is a boost from ONEOK’s previous quarterly dividend of $0.77. ONEOK’s payout ratio is currently 175.00%.
In related news, VP Sheppard F. Miers III sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $56.70, for a total transaction of $124,740.00. Following the completion of the transaction, the vice president now owns 31,244 shares in the company, valued at $1,771,534.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo A. Rodriguez sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $56.94, for a total transaction of $119,574.00. Following the transaction, the director now owns 16,025 shares of the company’s stock, valued at approximately $912,463.50. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of OKE. Koch Industries Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $1,089,000. Candriam Luxembourg S.C.A. boosted its holdings in shares of ONEOK by 32.9% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 59,710 shares of the utilities provider’s stock valued at $3,191,000 after buying an additional 14,777 shares during the period. Hartree Partners LP acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $962,000. Raymond James & Associates boosted its holdings in shares of ONEOK by 6.8% in the fourth quarter. Raymond James & Associates now owns 326,997 shares of the utilities provider’s stock valued at $17,478,000 after buying an additional 20,679 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $10,394,000. Hedge funds and other institutional investors own 68.49% of the company’s stock.
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ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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