ONEOK (NYSE:OKE) Sets New 12-Month High at $80.84

ONEOK, Inc. (NYSE:OKE) shares hit a new 52-week high on Monday . The stock traded as high as $80.84 and last traded at $80.64, with a volume of 1185619 shares trading hands. The stock had previously closed at $79.63.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKE shares. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. Truist Financial upped their price target on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Morgan Stanley increased their price objective on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Finally, Mizuho increased their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.25.

ONEOK Trading Up 0.6 %

The business’s 50 day moving average price is $77.16 and its two-hundred day moving average price is $71.41. The company has a market capitalization of $46.90 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 4.88 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter last year, the business earned $1.08 EPS. On average, equities analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.93%. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK declared that its board has initiated a stock repurchase program on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

Several large investors have recently modified their holdings of OKE. SG Americas Securities LLC grew its position in shares of ONEOK by 5.7% during the 3rd quarter. SG Americas Securities LLC now owns 53,046 shares of the utilities provider’s stock worth $3,365,000 after buying an additional 2,873 shares during the period. State of Alaska Department of Revenue grew its position in ONEOK by 20.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 76,601 shares of the utilities provider’s stock valued at $4,857,000 after purchasing an additional 12,905 shares during the period. Naples Global Advisors LLC acquired a new stake in ONEOK in the 3rd quarter valued at $233,000. Ziegler Capital Management LLC acquired a new stake in ONEOK in the 3rd quarter valued at $1,364,000. Finally, DAVENPORT & Co LLC grew its position in ONEOK by 67.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 39,121 shares of the utilities provider’s stock valued at $2,483,000 after purchasing an additional 15,819 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.