ONEOK (NYSE:OKE) Given New $132.00 Price Target at UBS Group

ONEOK (NYSE:OKE) had its target price increased by UBS Group from $112.00 to $132.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on the company. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial upped their price objective on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Wells Fargo & Company raised their price target on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Citigroup upped 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. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Trading Up 1.8 %

Shares of OKE stock opened at $109.81 on Friday. ONEOK has a fifty-two week low of $64.68 and a fifty-two week high of $110.05. The firm has a market capitalization of $64.15 billion, a P/E ratio of 22.97, a PEG ratio of 5.48 and a beta of 1.66. The stock’s fifty day moving average is $96.54 and its two-hundred day moving average is $87.72. 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 results 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). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Research analysts expect that ONEOK will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HM Payson & Co. increased its holdings in ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares during the period. Claro Advisors LLC increased its stake in shares of ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares during the period. Haverford Trust Co raised its holdings in ONEOK by 1.2% in the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after acquiring an additional 117 shares in the last quarter. QRG Capital Management Inc. lifted its stake in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

About ONEOK

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.