ONEOK (NYSE:OKE) Research Coverage Started at Capital One Financial

Capital One Financial initiated coverage on shares of ONEOK (NYSE:OKE) in a research note issued to investors on Tuesday morning, Marketbeat reports. The firm issued an overweight rating and a $110.00 target price on the utilities provider’s stock.

Several other research firms have also recently weighed in on OKE. TD Cowen boosted their target price on ONEOK from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Friday, September 11th. Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus assumed coverage on shares of ONEOK in a report on Thursday, September 10th. They set a “hold” rating and a $105.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Finally, Barclays lowered their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.88.

ONEOK Stock Up 0.7%

ONEOK stock opened at $91.14 on Tuesday. ONEOK has a 1-year low of $64.02 and a 1-year high of $99.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The stock has a market cap of $57.46 billion, a PE ratio of 15.71, a P/E/G ratio of 2.56 and a beta of 0.74. The stock’s fifty day moving average is $92.92 and its two-hundred day moving average is $89.99.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The business had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, sell-side analysts expect that ONEOK will post 5.73 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is currently 73.79%.

Institutional Investors Weigh In On ONEOK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. acquired a new position in shares of ONEOK in the 2nd quarter valued at $28,000. Portus Wealth Advisors LLC acquired a new stake in ONEOK during the 1st quarter worth $33,000. Transamerica Financial Advisors LLC grew its position in ONEOK by 69.6% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 149 shares during the last quarter. Wilkerson Advisory Group LLC grew its position in ONEOK by 51.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 133 shares during the last quarter. Finally, Cornerstone Financial Management LLC acquired a new position in ONEOK in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company’s services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.