ONEOK, Inc. (NYSE:OKE) has earned an average rating of “Buy” from the nineteen brokerages that are presently covering the company, MarketBeat Ratings 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 1 year price target among brokerages that have issued a report on the stock in the last year is $70.31.
OKE has been the subject of a number of analyst reports. ValuEngine upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Credit Suisse Group initiated coverage on shares of ONEOK in a research note on Thursday, October 11th. They set a “neutral” rating and a $74.00 target price for the company. Jefferies Financial Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Tuesday, October 16th. Barclays downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $73.00 to $70.00 in a research note on Friday, October 12th. Finally, Seaport Global Securities upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, October 19th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of ONEOK by 9.8% in the second quarter. BlackRock Inc. now owns 36,629,660 shares of the utilities provider’s stock valued at $2,557,848,000 after buying an additional 3,276,879 shares during the last quarter. Capital International Investors purchased a new stake in shares of ONEOK in the third quarter valued at about $136,765,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of ONEOK in the second quarter valued at about $94,768,000. Renaissance Technologies LLC raised its holdings in shares of ONEOK by 122.6% in the third quarter. Renaissance Technologies LLC now owns 1,600,068 shares of the utilities provider’s stock valued at $108,469,000 after buying an additional 881,254 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in shares of ONEOK by 6.3% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock valued at $997,880,000 after buying an additional 877,072 shares during the last quarter. Institutional investors own 74.40% of the company’s stock.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.31 billion. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, analysts expect that ONEOK will post 2.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were paid a $0.855 dividend. This represents a $3.42 annualized dividend and a yield of 5.75%. The ex-dividend date was Friday, November 2nd. This is an increase from ONEOK’s previous quarterly dividend of $0.83. ONEOK’s dividend payout ratio is currently 194.32%.
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.
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