ONEOK (NYSE:OKE) Sets New 12-Month High at $52.07

ONEOK, Inc. (NYSE:OKE)’s share price hit a new 52-week high on Tuesday . The company traded as high as $52.07 and last traded at $51.74, with a volume of 18161 shares traded. The stock had previously closed at $51.03.

A number of brokerages have weighed in on OKE. Citigroup upped their price objective on shares of ONEOK from $32.00 to $41.00 in a research report on Tuesday, January 26th. Credit Suisse Group upped their price target on shares of ONEOK from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 9th. Seaport Global Securities downgraded shares of ONEOK from a “buy” rating to a “neutral” rating in a research report on Monday, February 8th. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research report on Tuesday, December 29th. Finally, Mizuho upped their price target on shares of ONEOK from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $38.14.

The firm’s 50 day moving average price is $48.72 and its two-hundred day moving average price is $38.97. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.15 and a current ratio of 1.57. The firm has a market cap of $22.76 billion, a PE ratio of 35.27, a PEG ratio of 3.29 and a beta of 1.99.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Sunday, February 21st. The utilities provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.05). ONEOK had a net margin of 7.24% and a return on equity of 18.38%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the company earned $0.77 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that ONEOK, Inc. will post 2.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Monday, February 1st were given a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, January 29th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 7.31%. ONEOK’s payout ratio is currently 121.82%.

Large investors have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $26,000. Klaas Financial Asset Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $28,000. IMA Wealth Inc. boosted its position in shares of ONEOK by 80.8% during the 4th quarter. IMA Wealth Inc. now owns 839 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 375 shares during the period. First Horizon Advisors Inc. boosted its position in shares of ONEOK by 52.2% during the 4th quarter. First Horizon Advisors Inc. now owns 924 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 317 shares during the period. Finally, PrairieView Partners LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $38,000. 64.03% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile (NYSE:OKE)

ONEOK, Inc, together with its subsidiaries, engages in 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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