ONEOK (NYSE:OKE) Price Target Raised to $84.00

ONEOK (NYSE:OKE) had its target price hoisted by Royal Bank Of Canada from $79.00 to $84.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on OKE. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Scotiabank restated an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a research note on Friday, January 16th. UBS Group dropped their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price objective on shares of ONEOK in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $87.53.

ONEOK Stock Up 0.9%

OKE stock opened at $89.22 on Thursday. The firm has a 50 day moving average of $82.10 and a 200 day moving average of $75.18. The stock has a market capitalization of $56.19 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 6.79 and a beta of 0.93. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. ONEOK has a 52 week low of $64.02 and a 52 week high of $103.64.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $8.77 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. During the same quarter in the prior year, the business posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Sell-side analysts forecast that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio is 78.97%.

Hedge Funds Weigh In On ONEOK

Several large investors have recently made changes to their positions in OKE. Brighton Jones LLC raised its position in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares during the period. Empowered Funds LLC grew its position in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares during the period. Acadian Asset Management LLC purchased a new position in shares of ONEOK in the 1st quarter valued at about $216,000. Wealthspire Advisors LLC increased its stake in shares of ONEOK by 2.2% in the 2nd quarter. Wealthspire Advisors LLC now owns 22,224 shares of the utilities provider’s stock valued at $1,814,000 after purchasing an additional 472 shares in the last quarter. Finally, Empirical Finance LLC raised its holdings in ONEOK by 1.5% in the 2nd quarter. Empirical Finance LLC now owns 11,549 shares of the utilities provider’s stock worth $943,000 after purchasing an additional 169 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Company Profile

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.