ONEOK, Inc. (NYSE:OKE) Receives $92.38 Consensus Target Price from Analysts

25 Sep 2024, 07:31 by Mitch Edgeman · The Markets Daily

Shares of ONEOK, Inc. (NYSE:OKE – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $92.38.

A number of research firms have recently issued reports on OKE. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Truist Financial lifted their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup lifted their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th.

Get Our Latest Stock Analysis on OKE

ONEOK Price Performance

Shares of NYSE:OKE opened at $95.24 on Friday. The company’s fifty day moving average is $87.65 and its two-hundred day moving average is $82.74. The company has a market cap of $55.59 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. ONEOK has a 12-month low of $60.58 and a 12-month high of $96.05. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. Equities analysts expect that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

Hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new stake in ONEOK in the 1st quarter valued at $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK in the first quarter valued at about $26,000. Quest Partners LLC acquired a new stake in ONEOK during the second quarter worth about $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the second quarter valued at about $31,000. Finally, American National Bank acquired a new position in ONEOK in the 1st quarter valued at approximately $32,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

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