ONEOK (NYSE:OKE) PT Lowered to $36.00 at Stifel Nicolaus

ONEOK (NYSE:OKE) had its price objective lowered by Stifel Nicolaus from $38.00 to $36.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the utilities provider’s stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group raised their price objective on ONEOK from $34.00 to $35.00 and gave the company a neutral rating in a research report on Thursday, June 4th. Mizuho dropped their price objective on ONEOK from $40.00 to $34.00 and set a neutral rating on the stock in a research report on Tuesday, July 7th. Bank of America downgraded ONEOK from a buy rating to a neutral rating and set a $42.00 price objective on the stock. in a research report on Thursday, June 11th. ValuEngine downgraded ONEOK from a hold rating to a sell rating in a research report on Saturday, June 27th. Finally, Raymond James lowered their price target on ONEOK from $35.00 to $33.00 and set an outperform rating for the company in a report on Friday, July 17th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $43.35.

Shares of OKE traded down $0.19 during midday trading on Thursday, reaching $27.91. 7,232,421 shares of the stock were exchanged, compared to its average volume of 6,117,282. ONEOK has a 52 week low of $12.16 and a 52 week high of $78.48. The company has a current ratio of 1.71, a quick ratio of 1.01 and a debt-to-equity ratio of 2.30. The company’s 50 day moving average is $31.00 and its two-hundred day moving average is $43.17. The company has a market capitalization of $12.40 billion, a P/E ratio of 18.73, a PEG ratio of 1.78 and a beta of 2.19.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.19). ONEOK had a net margin of 7.13% and a return on equity of 18.28%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $0.75 EPS. ONEOK’s revenue for the quarter was down 32.4% compared to the same quarter last year. On average, sell-side analysts expect that ONEOK will post 2.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $0.935 dividend. This represents a $3.74 annualized dividend and a dividend yield of 13.40%. The ex-dividend date of this dividend is Friday, July 31st. ONEOK’s payout ratio is 121.82%.

Several large investors have recently made changes to their positions in OKE. Verus Capital Partners LLC purchased a new position in shares of ONEOK in the fourth quarter worth about $30,000. Flagship Harbor Advisors LLC raised its position in ONEOK by 224.9% during the first quarter. Flagship Harbor Advisors LLC now owns 1,436 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 994 shares in the last quarter. Carroll Financial Associates Inc. raised its position in ONEOK by 445.4% during the second quarter. Carroll Financial Associates Inc. now owns 949 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 775 shares in the last quarter. Contravisory Investment Management Inc. raised its position in ONEOK by 31.5% during the first quarter. Contravisory Investment Management Inc. now owns 1,531 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 367 shares in the last quarter. Finally, New England Investment & Retirement Group Inc. purchased a new position in ONEOK during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 64.75% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in the 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.

Recommended Story: Buy-Side Analysts

Analyst Recommendations for ONEOK (NYSE:OKE)

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.