Shares of ONEOK, Inc. (NYSE:OKE) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $56.67.

Several equities research analysts have weighed in on the company. TheStreet upgraded ONEOK from a “c+” rating to a “b-” rating in a report on Monday, March 6th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price objective on shares of ONEOK in a report on Wednesday, March 1st. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, March 8th. Guggenheim assumed coverage on ONEOK in a report on Monday, April 17th. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Credit Suisse Group AG upgraded ONEOK from a “neutral” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Thursday, February 2nd.

Shares of ONEOK (NYSE:OKE) traded up 1.10% during midday trading on Tuesday, reaching $52.23. The company’s stock had a trading volume of 2,389,621 shares. The company’s 50-day moving average price is $53.08 and its 200 day moving average price is $54.31. The company has a market capitalization of $11.02 billion, a P/E ratio of 31.18 and a beta of 1.19. ONEOK has a 12-month low of $40.67 and a 12-month high of $59.47.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.04. ONEOK had a return on equity of 9.99% and a net margin of 3.50%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.82 billion. On average, equities research analysts forecast that ONEOK will post $2.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Thursday, April 27th. ONEOK’s dividend payout ratio is currently 182.22%.

ILLEGAL ACTIVITY WARNING: “ONEOK, Inc. (OKE) Receives Average Rating of “Hold” from Brokerages” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was illegally copied and republished in violation of United States & international trademark and copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/05/23/oneok-inc-oke-receives-average-rating-of-hold-from-brokerages.html.

Several hedge funds and other institutional investors have recently made changes to their positions in OKE. Putnam Investments LLC raised its position in shares of ONEOK by 290.0% in the fourth quarter. Putnam Investments LLC now owns 17,774 shares of the utilities provider’s stock valued at $1,021,000 after buying an additional 13,216 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of ONEOK by 3.5% in the fourth quarter. First Republic Investment Management Inc. now owns 37,605 shares of the utilities provider’s stock valued at $2,159,000 after buying an additional 1,255 shares in the last quarter. Atria Investments LLC raised its position in shares of ONEOK by 51.3% in the first quarter. Atria Investments LLC now owns 44,027 shares of the utilities provider’s stock valued at $2,441,000 after buying an additional 14,937 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of ONEOK by 102.1% in the first quarter. Janney Montgomery Scott LLC now owns 39,307 shares of the utilities provider’s stock valued at $2,179,000 after buying an additional 19,859 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of ONEOK by 3.1% in the third quarter. Ameriprise Financial Inc. now owns 165,033 shares of the utilities provider’s stock valued at $8,476,000 after buying an additional 5,039 shares in the last quarter. 72.13% of the stock is owned by hedge funds and other institutional investors.

About ONEOK

ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.

12 Month Chart for NYSE:OKE

Receive News & Ratings for ONEOK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK Inc. and related companies with MarketBeat.com's FREE daily email newsletter.