ONEOK, Inc. (NYSE:OKE) Receives Average Rating of “Moderate Buy” from Brokerages

ONEOK, Inc. (NYSE:OKE) has been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $88.00.

A number of equities research analysts recently weighed in on OKE shares. Scotiabank dropped their price target on ONEOK from $88.00 to $87.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. TD Cowen reduced their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, November 6th. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th.

ONEOK Trading Down 0.1%

ONEOK stock opened at $73.58 on Friday. ONEOK has a 52 week low of $64.02 and a 52 week high of $111.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The stock has a market capitalization of $46.30 billion, a P/E ratio of 13.52, a PEG ratio of 4.51 and a beta of 0.95. The stock has a 50-day simple moving average of $70.27 and a 200 day simple moving average of $75.16.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Analysts expect that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, November 3rd. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK’s payout ratio is 75.74%.

Insider Buying and Selling

In other news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently modified their holdings of OKE. Bogart Wealth LLC raised its stake in ONEOK by 3.1% in the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 122 shares in the last quarter. Presima Securities ULC increased its holdings in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 127 shares during the period. Empowered Funds LLC increased its holdings in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. raised its position in shares of ONEOK by 5.8% in the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 2,540 shares of the utilities provider’s stock valued at $207,000 after buying an additional 140 shares in the last quarter. Finally, Focused Wealth Management Inc boosted its stake in shares of ONEOK by 4.3% in the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock valued at $251,000 after buying an additional 142 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.