ONEOK (NYSE:OKE) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of ONEOK (NYSE:OKE) from a hold rating to a buy rating in a report published on Friday morning, Marketbeat reports. Jefferies Financial Group currently has $98.00 price objective on the utilities provider’s stock, up from their previous price objective of $85.00.

Several other equities research analysts also recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a research note on Wednesday, January 28th. Mizuho set a $89.00 target price on ONEOK in a research note on Monday, February 23rd. JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $87.00 to $83.00 in a research report on Tuesday, January 27th. Barclays boosted their price target on ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, Scotiabank reissued an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.53.

ONEOK Stock Performance

OKE opened at $89.22 on Friday. The company has a market cap of $56.19 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 6.79 and a beta of 0.93. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $82.10 and its 200-day moving average price is $75.18. ONEOK has a 52-week low of $64.02 and a 52-week high of $103.64.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. During the same period last year, the business earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, equities analysts anticipate that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, February 2nd. ONEOK’s payout ratio is presently 78.97%.

Institutional Investors Weigh In On ONEOK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. Zions Bancorporation National Association UT boosted its stake in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Winnow Wealth LLC purchased a new position in ONEOK during the third quarter valued at approximately $28,000. City Holding Co. acquired a new position in ONEOK in the third quarter valued at approximately $28,000. Elyxium Wealth LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $29,000. Finally, Global Wealth Strategies & Associates purchased a new stake in ONEOK in the 3rd quarter worth approximately $29,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.