ONEOK, Inc. (OKE) Given Consensus Rating of “Hold” by Analysts
ONEOK, Inc. (NYSE:OKE) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $56.67.
Several equities analysts have recently commented on the company. Credit Suisse Group lowered their target price on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of ONEOK in a report on Monday, April 17th. Guggenheim assumed coverage on ONEOK in a report on Monday, April 17th. They set a “buy” rating and a $62.00 target price for the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 target price on shares of ONEOK in a report on Friday, May 12th. Finally, UBS AG raised ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $59.00 in a report on Wednesday, June 14th.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at $912,412.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA increased its stake in ONEOK by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after buying an additional 20 shares during the period. Cleararc Capital Inc. increased its stake in ONEOK by 0.7% in the first quarter. Cleararc Capital Inc. now owns 5,147 shares of the utilities provider’s stock worth $285,000 after buying an additional 36 shares during the period. New Amsterdam Partners LLC NY increased its stake in ONEOK by 0.6% in the second quarter. New Amsterdam Partners LLC NY now owns 9,367 shares of the utilities provider’s stock worth $489,000 after buying an additional 58 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in ONEOK by 0.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,076 shares of the utilities provider’s stock worth $448,000 after buying an additional 60 shares during the period. Finally, Capstone Asset Management Co. increased its stake in ONEOK by 0.4% in the first quarter. Capstone Asset Management Co. now owns 18,444 shares of the utilities provider’s stock worth $1,023,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 80.89% of the company’s stock.
ONEOK (OKE) traded down 0.98% during mid-day trading on Tuesday, reaching $52.55. The company’s stock had a trading volume of 2,568,571 shares. The firm has a 50-day moving average of $52.62 and a 200-day moving average of $53.17. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 32.93 and a beta of 1.31. ONEOK has a 52 week low of $44.82 and a 52 week high of $59.47.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same period last year, the company posted $0.40 earnings per share. On average, equities research analysts expect that ONEOK will post $1.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 5.67%. This is an increase from ONEOK’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, August 3rd. ONEOK’s dividend payout ratio is 186.25%.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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