JPMorgan Chase & Co. Cuts ONEOK (NYSE:OKE) Price Target to $100.00

ONEOK (NYSE:OKE) had its price objective reduced by JPMorgan Chase & Co. from $106.00 to $100.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

OKE has been the subject of a number of other reports. Weiss Ratings raised ONEOK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Scotiabank boosted their target price on ONEOK from $89.00 to $95.00 and gave the company a “sector perform” rating in a report on Tuesday, September 1st. Royal Bank Of Canada upped their price target on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Truist Financial increased their price target on ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, September 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of ONEOK from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average price target of $96.53.

ONEOK Trading Up 2.6%

NYSE OKE opened at $90.34 on Tuesday. The firm’s fifty day moving average is $92.24 and its two-hundred day moving average is $90.12. ONEOK has a one year low of $64.02 and a one year high of $99.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The firm has a market cap of $56.95 billion, a PE ratio of 15.58, a P/E/G ratio of 2.50 and a beta of 0.82.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Analysts expect that ONEOK will post 5.73 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. ONEOK’s payout ratio is 73.79%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OKE. BlackRock Inc. boosted its position in shares of ONEOK by 8.7% during the 2nd quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after purchasing an additional 5,148,768 shares in the last quarter. State Street Corp lifted its stake in shares of ONEOK by 5.0% in the second quarter. State Street Corp now owns 43,633,749 shares of the utilities provider’s stock valued at $3,793,518,000 after purchasing an additional 2,059,368 shares during the period. First Eagle Investment Management LLC boosted its holdings in ONEOK by 1.3% during the second quarter. First Eagle Investment Management LLC now owns 11,834,827 shares of the utilities provider’s stock worth $1,028,920,000 after buying an additional 155,652 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ONEOK by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,552,597 shares of the utilities provider’s stock worth $502,000,000 after buying an additional 187,880 shares in the last quarter. Finally, Bank of America Corp DE grew its position in ONEOK by 5.2% during the first quarter. Bank of America Corp DE now owns 5,504,989 shares of the utilities provider’s stock worth $497,596,000 after buying an additional 272,704 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a diversified energy infrastructure company that owns and operates midstream assets in the United States. Its operations connect producers, processors, storage facilities and end-use markets across major energy-producing and consuming regions.

The company’s businesses include natural gas gathering, processing, transportation and storage, as well as natural gas liquids (NGL) gathering, fractionation, storage and transportation. ONEOK also operates infrastructure serving refined products and crude oil markets, including pipelines and terminals.