ONEOK (NYSE:OKE) Upgraded at Argus

Argus upgraded shares of ONEOK (NYSE:OKE) from a hold rating to a buy rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have $79.00 target price on the utilities provider’s stock.

OKE has been the subject of several other reports. Royal Bank Of Canada cut their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Raymond James Financial reissued an “outperform” rating and set a $82.00 price objective (down from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Morgan Stanley cut their target price on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. TD Cowen decreased their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Finally, Barclays cut their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Up 0.5%

Shares of OKE stock opened at $68.15 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The stock has a market cap of $42.88 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The business’s fifty day moving average is $70.92 and its 200-day moving average is $77.21. ONEOK has a 1 year low of $64.02 and a 1 year high of $118.07.

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, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts expect that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Insiders Place Their Bets

In other news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, with a total value of $165,000.00. Following the transaction, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ONEOK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Midland Wealth Advisors LLC acquired a new position in shares of ONEOK during the 3rd quarter worth $222,000. NewEdge Wealth LLC raised its holdings in ONEOK by 1.2% during the third quarter. NewEdge Wealth LLC now owns 13,446 shares of the utilities provider’s stock valued at $981,000 after buying an additional 158 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of ONEOK by 10.7% in the third quarter. Essex Financial Services Inc. now owns 4,756 shares of the utilities provider’s stock worth $347,000 after buying an additional 458 shares during the last quarter. Cercano Management LLC bought a new stake in shares of ONEOK during the 3rd quarter worth about $216,000. Finally, Syon Capital LLC increased its holdings in shares of ONEOK by 13.9% during the 3rd quarter. Syon Capital LLC now owns 12,550 shares of the utilities provider’s stock valued at $916,000 after acquiring an additional 1,532 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

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.