ONEOK (OKE) – Research Analysts’ Recent Ratings Changes

ONEOK (NYSE: OKE) recently received a number of ratings updates from brokerages and research firms:

• 11/7/2024 – ONEOK was upgraded by analysts at Mizuho to a “hold” rating.
• 11/4/2024 – ONEOK had its price target raised by analysts at Barclays PLC from $94.00 to $99.00. They now have an “equal weight” rating on the stock.
• 11/1/2024 – ONEOK had its price target raised by analysts at Wells Fargo & Company from $100.00 to $107.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – ONEOK had its price target raised by analysts at Truist Financial Co. from $83.00 to $99.00. They now have a “hold” rating on the stock.
• 10/17/2024 – ONEOK is now covered by analysts at Bank of America Co.. They set a “buy” rating and a $105.00 price target on the stock.
• 10/16/2024 – ONEOK had its price target raised by analysts at Royal Bank of Canada from $89.00 to $98.00. They now have a “sector perform” rating on the stock.
• 9/16/2024 – ONEOK was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $111.00 price target on the stock, up previously from $103.00.
• 9/16/2024 – ONEOK had its price target raised by analysts at Barclays PLC from $82.00 to $94.00. They now have an “equal weight” rating on the stock.

ONEOK Stock Up 0.3 %

ONEOK stock traded up $0.35 during trading hours on Wednesday, hitting $108.17. The company had a trading volume of 4,337,629 shares, compared to its average volume of 2,763,531. The firm’s fifty day moving average is $95.51 and its 200-day moving average is $87.09. ONEOK, Inc. has a fifty-two week low of $64.68 and a fifty-two week high of $109.21. The firm has a market capitalization of $63.19 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 5.38 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the company earned $0.99 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.66%. ONEOK’s payout ratio is presently 82.85%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its position in shares of ONEOK by 21.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 844 shares in the last quarter. QRG Capital Management Inc. increased its position in ONEOK by 3.8% in the 1st quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock valued at $437,000 after acquiring an additional 198 shares in the last quarter. Entropy Technologies LP acquired a new stake in ONEOK in the 1st quarter valued at about $557,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in ONEOK by 28.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock valued at $5,059,000 after acquiring an additional 14,058 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its position in ONEOK by 3,750.0% in the 1st quarter. Eagle Bay Advisors LLC now owns 924 shares of the utilities provider’s stock valued at $74,000 after acquiring an additional 900 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

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.