ONEOK (NYSE:OKE) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of ONEOK (NYSE:OKE) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $75.00 price objective on the utilities provider’s stock.

OKE has been the topic of several other reports. Royal Bank Of Canada dropped their price objective on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Mizuho dropped their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, Morgan Stanley dropped their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.00.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $72.50 on Tuesday. The company has a market cap of $45.66 billion, a P/E ratio of 14.13, a PEG ratio of 1.79 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK has a one year low of $70.63 and a one year high of $118.07. The business’s 50-day simple moving average is $74.86 and its 200 day simple moving average is $81.27.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period last year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts forecast that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a dividend of $1.03 per share. The ex-dividend date was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. ONEOK’s payout ratio is currently 80.31%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. Brighton Jones LLC boosted its position in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the period. Versant Capital Management Inc boosted its position in ONEOK by 140.0% during the 1st quarter. Versant Capital Management Inc now owns 1,260 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 735 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in ONEOK by 13.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,824 shares of the utilities provider’s stock valued at $776,000 after purchasing an additional 941 shares during the period. NBC Securities Inc. boosted its position in ONEOK by 114,650.0% during the 1st quarter. NBC Securities Inc. now owns 2,295 shares of the utilities provider’s stock valued at $227,000 after purchasing an additional 2,293 shares during the period. Finally, Harbor Investment Advisory LLC boosted its position in ONEOK by 154.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,069 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 649 shares during the period. 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.