Shares of ONEOK, Inc. (NYSE:OKE) have received a consensus rating of “Hold” from the twenty-three research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $32.61.
Several research firms recently issued reports on OKE. Stifel Nicolaus decreased their target price on ONEOK from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. UBS Group raised ONEOK from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Tuesday, September 29th. Raymond James decreased their target price on ONEOK from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Wells Fargo & Company raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $34.00 to $36.00 in a research note on Monday, October 5th. Finally, Mizuho reduced their price target on ONEOK from $40.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 7th.
Shares of NYSE OKE traded down $0.79 during mid-day trading on Monday, reaching $29.76. 82,064 shares of the company’s stock were exchanged, compared to its average volume of 5,604,704. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.95 and a beta of 2.03. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.31 and a current ratio of 1.71. ONEOK has a 52-week low of $12.16 and a 52-week high of $78.48. The company’s 50-day moving average is $27.28 and its 200-day moving average is $30.18.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a dividend yield of 12.57%. The ex-dividend date of this dividend is Friday, October 30th. ONEOK’s dividend payout ratio (DPR) is presently 121.82%.
Several hedge funds and other institutional investors have recently modified their holdings of OKE. Vanguard Group Inc. raised its position in shares of ONEOK by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 51,850,265 shares of the utilities provider’s stock worth $1,722,467,000 after acquiring an additional 2,370,633 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 51.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,271,585 shares of the utilities provider’s stock worth $175,123,000 after buying an additional 1,792,621 shares during the last quarter. State Street Corp grew its stake in ONEOK by 7.2% during the 1st quarter. State Street Corp now owns 23,288,906 shares of the utilities provider’s stock worth $507,931,000 after buying an additional 1,554,211 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ONEOK by 19.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,494,027 shares of the utilities provider’s stock worth $282,171,000 after buying an additional 1,386,911 shares during the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in ONEOK during the 2nd quarter worth approximately $35,203,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.
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.
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