Brokerages Set ONEOK, Inc. (NYSE:OKE) Target Price at $87.31

ONEOK, Inc. (NYSE:OKE) has been given an average recommendation of “Hold” by the seventeen analysts that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $87.3125.

A number of research analysts recently issued reports on OKE shares. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, November 6th. Raymond James Financial restated an “outperform” rating and set a $82.00 target price (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Barclays decreased their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Wells Fargo & Company cut their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research note on Friday, January 16th.

ONEOK Trading Up 1.8%

Shares of OKE stock opened at $81.89 on Monday. The company has a market capitalization of $51.53 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.57 and a beta of 0.96. ONEOK has a 12-month low of $64.02 and a 12-month high of $103.64. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average price of $74.80 and a 200 day moving average price of $73.39.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.2%. ONEOK’s dividend payout ratio is currently 78.68%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after acquiring an additional 380,744 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after acquiring an additional 613,674 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ONEOK by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after acquiring an additional 355,751 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of ONEOK by 6.3% during the 3rd quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock worth $650,827,000 after purchasing an additional 532,267 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.