ONEOK (NYSE:OKE) Given New $107.00 Price Target at Truist Financial

ONEOK (NYSE:OKE) had its price target lifted by Truist Financial from $99.00 to $107.00 in a report released on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the utilities provider’s stock.

OKE has been the subject of a number of other research reports. Barclays upped their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Scotiabank increased their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Citigroup lifted their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Price Performance

Shares of OKE opened at $110.51 on Tuesday. The company has a market capitalization of $64.56 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 5.59 and a beta of 1.69. ONEOK has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The firm has a 50-day simple moving average of $101.36 and a 200-day simple moving average of $90.52. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities research analysts anticipate that ONEOK will post 5.08 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.58%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On ONEOK

A number of large investors have recently bought and sold shares of the stock. Matrix Trust Co purchased a new stake in shares of ONEOK in the third quarter valued at $29,000. Quest Partners LLC purchased a new position in ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC purchased a new position in ONEOK in the 2nd quarter valued at about $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter worth about $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK during the third quarter worth about $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.