Barclays upgraded shares of ONEOK (NYSE:OKE) from an equal weight rating to an overweight rating in a research note issued to investors on Wednesday, Marketbeat reports. They currently have $67.00 price objective on the utilities provider’s stock, up from their prior price objective of $58.00.
A number of other analysts have also commented on the company. Zacks Investment Research lowered ONEOK from a buy rating to a sell rating in a report on Tuesday, October 31st. Mizuho initiated coverage on ONEOK in a report on Tuesday, October 10th. They set a neutral rating and a $59.00 price objective for the company. UBS Group boosted their price objective on ONEOK from $60.00 to $61.00 and gave the stock a buy rating in a report on Wednesday, November 1st. Stifel Nicolaus reissued a hold rating and set a $54.00 price objective on shares of ONEOK in a report on Thursday, October 12th. Finally, BMO Capital Markets set a $62.00 price objective on ONEOK and gave the stock a buy rating in a report on Wednesday, October 18th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $59.93.
Shares of ONEOK (NYSE:OKE) traded up $0.18 during trading on Wednesday, reaching $58.32. The company had a trading volume of 8,657,039 shares, compared to its average volume of 3,060,000. ONEOK has a twelve month low of $47.14 and a twelve month high of $60.06. The company has a market cap of $22,360.00, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, January 26th. This is an increase from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s payout ratio is presently 186.25%.
In other ONEOK news, Director Brian L. Derksen bought 1,800 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $51.00 per share, for a total transaction of $91,800.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in OKE. Capstone Investment Advisors Netherlands B.V. boosted its position in ONEOK by 31.3% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 3,071 shares of the utilities provider’s stock valued at $160,000 after buying an additional 732 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in ONEOK by 4.8% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,520 shares of the utilities provider’s stock valued at $1,018,000 after purchasing an additional 897 shares in the last quarter. Benson Investment Management Company Inc. increased its stake in ONEOK by 2.1% during the 4th quarter. Benson Investment Management Company Inc. now owns 44,565 shares of the utilities provider’s stock valued at $2,382,000 after purchasing an additional 905 shares in the last quarter. Sentry Investment Management LLC increased its stake in ONEOK by 6.9% during the 2nd quarter. Sentry Investment Management LLC now owns 16,252 shares of the utilities provider’s stock valued at $848,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Oakbrook Investments LLC increased its stake in ONEOK by 6.0% during the 4th quarter. Oakbrook Investments LLC now owns 19,432 shares of the utilities provider’s stock valued at $1,039,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 69.94% of the company’s stock.
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ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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