ONEOK, Inc. (NYSE:OKE) has earned a consensus rating of “Buy” from the nineteen research firms that are covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $70.31.
Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on ONEOK from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Barclays raised their price objective on ONEOK from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Zacks Investment Research cut ONEOK from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 19th. Jefferies Financial Group cut ONEOK from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Seaport Global Securities set a $73.00 target price on ONEOK and gave the stock a “hold” rating in a research report on Friday, July 27th.
Shares of NYSE OKE traded down $0.10 during trading on Thursday, hitting $63.97. The company had a trading volume of 2,435,758 shares, compared to its average volume of 2,543,303. The company has a quick ratio of 0.51, a current ratio of 0.74 and a debt-to-equity ratio of 1.25. ONEOK has a 12 month low of $49.65 and a 12 month high of $71.99. The company has a market capitalization of $26.20 billion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be given a dividend of $0.855 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $3.42 annualized dividend and a dividend yield of 5.35%. This is a boost from ONEOK’s previous quarterly dividend of $0.83. ONEOK’s dividend payout ratio (DPR) is currently 194.32%.
Large investors have recently added to or reduced their stakes in the stock. Global X Management Co LLC grew its holdings in ONEOK by 0.5% during the 2nd quarter. Global X Management Co LLC now owns 534,805 shares of the utilities provider’s stock valued at $37,345,000 after buying an additional 2,922 shares in the last quarter. Northern Trust Corp grew its holdings in ONEOK by 0.9% during the 2nd quarter. Northern Trust Corp now owns 4,492,346 shares of the utilities provider’s stock valued at $313,701,000 after buying an additional 38,609 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its holdings in ONEOK by 16.5% during the 2nd quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 29,717 shares of the utilities provider’s stock valued at $2,075,000 after buying an additional 4,215 shares in the last quarter. Castleark Management LLC grew its holdings in ONEOK by 69.5% during the 2nd quarter. Castleark Management LLC now owns 40,844 shares of the utilities provider’s stock valued at $2,852,000 after buying an additional 16,750 shares in the last quarter. Finally, Atria Investments LLC grew its holdings in ONEOK by 2.8% during the 3rd quarter. Atria Investments LLC now owns 38,865 shares of the utilities provider’s stock valued at $2,635,000 after buying an additional 1,073 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.
ONEOK Company Profile
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.
Recommended Story: Understanding Price to Earnings Ratio (PE)
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.