Scotiabank Cuts ONEOK (NYSE:OKE) Price Target to $100.00

ONEOK (NYSE:OKE) had its target price decreased by Scotiabank from $101.00 to $100.00 in a report released on Tuesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the utilities provider’s stock.

A number of other research firms also recently issued reports on OKE. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Barclays decreased their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Morgan Stanley boosted their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.62.

ONEOK Stock Performance

Shares of OKE stock opened at $80.91 on Tuesday. ONEOK has a 12 month low of $75.48 and a 12 month high of $118.07. The firm has a market capitalization of $50.54 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The firm has a fifty day simple moving average of $90.93 and a two-hundred day simple moving average of $98.68. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the company earned $1.09 EPS. Analysts forecast that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.09%. ONEOK’s payout ratio is 79.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kieckhefer Group LLC bought a new position in shares of ONEOK in the fourth quarter worth $30,000. Greenline Partners LLC bought a new position in ONEOK in the 4th quarter worth about $32,000. First Pacific Financial bought a new position in ONEOK in the 1st quarter worth about $34,000. Vermillion Wealth Management Inc. bought a new stake in shares of ONEOK during the fourth quarter valued at about $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ONEOK in the fourth quarter worth about $39,000. 69.13% of the stock is owned by institutional investors.

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.