ONEOK, Inc. (NYSE:OKE) Receives $88.00 Average Target Price from Analysts

Shares of ONEOK, Inc. (NYSE:OKE) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $88.00.

Several equities research analysts recently issued reports on the company. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, November 6th. Citigroup dropped their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a report on Thursday, October 30th. Mizuho lowered their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. Finally, Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th.

ONEOK Trading Down 2.4%

ONEOK stock opened at $71.10 on Friday. ONEOK has a 52 week low of $64.02 and a 52 week high of $111.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The firm has a market capitalization of $44.74 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 4.46 and a beta of 0.95. The company has a 50 day moving average price of $70.25 and a 200 day moving average price of $75.00.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the prior year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts forecast that ONEOK will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Insider Buying and Selling

In other news, Director Brian L. Derksen bought 2,500 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On ONEOK

Several institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in ONEOK by 84.0% in the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 1,848 shares during the last quarter. Morningstar Investment Management LLC boosted its holdings in ONEOK by 18.2% during the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after buying an additional 4,206 shares during the last quarter. Meixler Investment Management Ltd. grew its position in shares of ONEOK by 134.0% during the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after buying an additional 17,714 shares during the period. Balefire LLC acquired a new position in shares of ONEOK during the 2nd quarter worth about $973,000. Finally, Dark Forest Capital Management LP increased its stake in shares of ONEOK by 409.5% in the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider’s stock valued at $4,006,000 after acquiring an additional 32,448 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.