ONEOK, Inc. (NYSE:OKE) has earned an average rating of “Buy” from the twenty research firms that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $70.65.
Several equities research analysts have recently commented on the company. Mizuho assumed coverage on ONEOK in a research note on Wednesday. They issued a “neutral” rating and a $70.00 target price for the company. Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, October 19th. Wells Fargo & Co lifted their target price on ONEOK from $75.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. ValuEngine cut ONEOK from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Goldman Sachs Group assumed coverage on ONEOK in a research note on Monday, October 8th. They set a “neutral” rating and a $68.00 price objective for the company.
OKE traded up $0.09 during trading on Monday, hitting $61.43. The company’s stock had a trading volume of 3,127,907 shares, compared to its average volume of 2,068,441. The company has a market cap of $25.23 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.28 and a beta of 0.91. ONEOK has a 12 month low of $49.76 and a 12 month high of $71.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.51 and a current ratio of 0.74.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were paid a $0.855 dividend. This represents a $3.42 dividend on an annualized basis and a yield of 5.57%. This is a boost from ONEOK’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, November 2nd. ONEOK’s payout ratio is presently 194.32%.
Large investors have recently bought and sold shares of the business. JNBA Financial Advisors lifted its holdings in shares of ONEOK by 827.4% in the third quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 1,812 shares in the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of ONEOK in the third quarter valued at about $140,000. Rehmann Capital Advisory Group lifted its holdings in shares of ONEOK by 205.6% in the second quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 1,643 shares in the last quarter. Palo Capital Inc. bought a new stake in shares of ONEOK in the third quarter valued at about $175,000. Finally, First Hawaiian Bank bought a new stake in shares of ONEOK in the third quarter valued at about $177,000. 74.40% of the stock is owned by hedge funds and other institutional investors.
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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