ONEOK, Inc. (NYSE:OKE) Receives Consensus Rating of “Hold” from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been assigned a consensus recommendation of “Hold” from the seventeen research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $82.25.

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Stifel Nicolaus upped their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley raised their price target on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, Mizuho lifted their target price on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th.

ONEOK Trading Up 0.4 %

NYSE:OKE opened at $81.41 on Tuesday. The company’s 50 day moving average is $77.97 and its 200-day moving average is $71.81. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK has a 12 month low of $55.91 and a 12 month high of $81.81. The firm has a market cap of $47.51 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 4.95 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the business earned $1.08 EPS. Equities analysts anticipate that ONEOK will post 4.99 EPS for the current year.

ONEOK declared that its Board of Directors has initiated a share buyback program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.86%. The ex-dividend date is Tuesday, April 30th. ONEOK’s payout ratio is presently 71.35%.

Insider Activity

In other news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OKE. Peoples Bank KS acquired a new position in ONEOK in the third quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of ONEOK in the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK during the first quarter worth $26,000. Beacon Capital Management LLC lifted its stake in ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in ONEOK in the fourth quarter valued at about $32,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.