ONEOK (NYSE:OKE) Price Target Raised to $99.00 at Barclays

ONEOK (NYSE:OKE) had its price objective boosted by Barclays from $94.00 to $99.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

OKE has been the subject of several other research reports. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Truist Financial increased their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Mizuho upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $96.92.

ONEOK Stock Up 1.9 %

Shares of ONEOK stock traded up $1.84 during midday trading on Monday, hitting $97.48. The company’s stock had a trading volume of 406,138 shares, compared to its average volume of 2,727,326. The firm has a market capitalization of $56.95 billion, a P/E ratio of 20.01, a PEG ratio of 3.98 and a beta of 1.66. ONEOK has a 1-year low of $63.33 and a 1-year high of $98.43. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a 50-day simple moving average of $93.80 and a 200-day simple moving average of $86.07.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company earned $0.99 EPS. As a group, sell-side analysts expect that ONEOK will post 5.16 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

Hedge funds have recently added to or reduced their stakes in the stock. Caxton Associates LP acquired a new stake in ONEOK during the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP acquired a new position in shares of ONEOK during the second quarter worth $15,008,000. Sageworth Trust Co bought a new stake in shares of ONEOK in the third quarter worth $568,000. NewEdge Advisors LLC increased its holdings in ONEOK by 61.0% in the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock valued at $11,836,000 after purchasing an additional 54,978 shares during the period. Finally, Catalyst Financial Partners LLC acquired a new stake in ONEOK in the second quarter valued at $328,000. 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.