ONEOK (NYSE:OKE) Sets New 12-Month High at $80.84

ONEOK, Inc. (NYSE:OKE) hit a new 52-week high on Monday . The company traded as high as $80.84 and last traded at $80.64, with a volume of 1185619 shares changing hands. The stock had previously closed at $79.63.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Mizuho lifted their target price on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. upped their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Wolfe Research upgraded ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Finally, Truist Financial increased their price target on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $82.25.

ONEOK Price Performance

The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The stock has a 50 day moving average price of $77.16 and a 200-day moving average price of $71.41. The stock has a market capitalization of $46.90 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 4.88 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business posted $1.08 EPS. On average, analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.93%. ONEOK’s dividend payout ratio is currently 71.35%.

ONEOK announced that its board has approved a share buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the purchase, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Peoples Bank KS purchased a new stake in ONEOK during the 3rd quarter valued at approximately $25,000. Rise Advisors LLC purchased a new position in shares of ONEOK during the 1st quarter worth approximately $25,000. Beacon Capital Management LLC raised its stake in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $32,000. Finally, American National Bank purchased a new position in shares of ONEOK during the 1st quarter worth approximately $32,000. 69.13% of the stock is owned by institutional investors and hedge funds.

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.