ONEOK (NYSE:OKE) Reaches New 1-Year High – Here’s What Happened
by Sarita Garza · The Markets DailyONEOK, Inc. (NYSE:OKE – Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $97.90 and last traded at $97.24, with a volume of 297039 shares trading hands. The stock had previously closed at $95.32.
Analyst Ratings Changes
A number of equities analysts recently issued reports on OKE shares. Barclays dropped their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Morgan Stanley restated an “equal weight” rating and issued a $103.00 price target (down from $113.00) on shares of ONEOK in a research report on Wednesday, July 29th. Citigroup boosted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their price objective on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Finally, TD Cowen increased their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $91.81.
ONEOK Trading Up 1.4%
The business has a 50-day moving average price of $89.62 and a 200-day moving average price of $87.80. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $60.90 billion, a P/E ratio of 16.65, a PEG ratio of 7.10 and a beta of 0.73.
ONEOK (NYSE:OKE – Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period last year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Analysts anticipate that ONEOK, Inc. will post 5.87 earnings per share for the current year.
ONEOK Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 73.79%.
Institutional Trading of ONEOK
Several large investors have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC raised its position in ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock valued at $574,000 after purchasing an additional 115 shares during the last quarter. Clearstead Trust LLC grew its holdings in shares of ONEOK by 4.7% during the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock worth $238,000 after purchasing an additional 117 shares during the last quarter. Hoxton Planning & Management LLC increased its stake in shares of ONEOK by 2.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock valued at $395,000 after buying an additional 120 shares in the last quarter. Welch Group LLC increased its stake in shares of ONEOK by 0.8% in the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock valued at $1,343,000 after buying an additional 122 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in shares of ONEOK by 0.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock valued at $2,374,000 after buying an additional 122 shares during the last quarter. 69.13% of the stock is owned by institutional investors.
About ONEOK
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.