Shares of ONEOK, Inc. (NYSE:OKE) have been given a consensus rating of “Hold” by the nineteen research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $46.27.
A number of analysts recently weighed in on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of ONEOK from $49.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup raised their target price on shares of ONEOK from $49.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday. Credit Suisse Group raised their target price on shares of ONEOK from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, May 11th. Raymond James raised their target price on shares of ONEOK from $47.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, April 15th. Finally, Royal Bank of Canada raised their target price on shares of ONEOK from $49.00 to $54.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 4th.
Institutional investors and hedge funds have recently made changes to their positions in the business. Retirement Group LLC acquired a new position in shares of ONEOK in the first quarter worth about $25,000. Klaas Financial Asset Advisors LLC acquired a new position in shares of ONEOK in the fourth quarter worth about $28,000. Burleson & Company LLC acquired a new position in shares of ONEOK in the first quarter worth about $29,000. City Holding Co. acquired a new position in shares of ONEOK in the first quarter worth about $30,000. Finally, Denali Advisors LLC acquired a new position in shares of ONEOK in the first quarter worth about $30,000. Institutional investors own 63.97% of the company’s stock.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.09. ONEOK had a net margin of 11.88% and a return on equity of 18.61%. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the company earned $0.83 EPS. On average, analysts expect that ONEOK will post 3.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Monday, April 26th were issued a $0.935 dividend. This represents a $3.74 annualized dividend and a dividend yield of 6.83%. The ex-dividend date of this dividend was Friday, April 23rd. ONEOK’s payout ratio is 263.38%.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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