ONEOK (NYSE:OKE) Hits New 12-Month Low – Here’s What Happened

ONEOK, Inc. (NYSE:OKE) shares hit a new 52-week low during trading on Monday . The stock traded as low as $75.48 and last traded at $77.24, with a volume of 801974 shares traded. The stock had previously closed at $80.86.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Barclays lowered their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Down 1.4 %

The stock has a market capitalization of $49.76 billion, a P/E ratio of 16.69, a PEG ratio of 3.77 and a beta of 1.20. The business has a 50-day simple moving average of $97.08 and a two-hundred day simple moving average of $100.30. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.17%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Institutional Investors Weigh In On ONEOK

A number of large investors have recently bought and sold shares of the business. Kieckhefer Group LLC bought a new position in ONEOK in the 4th quarter valued at $30,000. Greenline Partners LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at $32,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK in the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the 4th quarter worth about $39,000. Finally, Canton Hathaway LLC bought a new stake in ONEOK during the 4th quarter worth about $40,000. 69.13% of the stock is currently owned by institutional investors.

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.