ONEOK, Inc. (NYSE:OKE) had its price target cut by Credit Suisse Group from $64.00 to $61.00 in a research report report published on Thursday. They currently have an outperform rating on the utilities provider’s stock.
OKE has been the subject of a number of other reports. BMO Capital Markets reissued a hold rating and set a $53.00 price target on shares of ONEOK in a research report on Monday, April 17th. Guggenheim assumed coverage on shares of ONEOK in a research report on Monday, April 17th. They set a buy rating and a $62.00 price target for the company. Royal Bank Of Canada reissued a hold rating and set a $58.00 price target on shares of ONEOK in a research report on Friday, May 12th. UBS AG raised shares of ONEOK from a neutral rating to a buy rating and lifted their price target for the company from $56.00 to $59.00 in a research report on Wednesday, June 14th. Finally, Jefferies Group LLC set a $51.00 price target on shares of ONEOK and gave the company a hold rating in a research report on Friday, June 16th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $57.15.
ONEOK (NYSE OKE) traded down 0.59% during midday trading on Thursday, hitting $53.53. 2,804,981 shares of the stock traded hands. ONEOK has a 52 week low of $44.27 and a 52 week high of $59.47. The stock has a market capitalization of $20.34 billion, a P/E ratio of 33.54 and a beta of 1.31. The stock’s 50-day moving average price is $52.22 and its 200-day moving average price is $53.15.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.12. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the business earned $0.40 earnings per share. Equities research analysts expect that ONEOK will post $1.83 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.745 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.62. This represents a $2.98 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date of this dividend is Thursday, August 3rd. ONEOK’s dividend payout ratio (DPR) is currently 186.25%.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at approximately $912,412.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. raised its stake in ONEOK by 43.7% in the second quarter. Tocqueville Asset Management L.P. now owns 10,200 shares of the utilities provider’s stock worth $532,000 after buying an additional 3,100 shares in the last quarter. Cadence Capital Management LLC raised its stake in ONEOK by 44.6% in the second quarter. Cadence Capital Management LLC now owns 36,803 shares of the utilities provider’s stock worth $1,920,000 after buying an additional 11,344 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in ONEOK by 1.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 319,726 shares of the utilities provider’s stock worth $16,677,000 after buying an additional 5,312 shares in the last quarter. Everence Capital Management Inc. raised its stake in ONEOK by 41.0% in the second quarter. Everence Capital Management Inc. now owns 11,236 shares of the utilities provider’s stock worth $586,000 after buying an additional 3,270 shares in the last quarter. Finally, BB&T Securities LLC raised its stake in ONEOK by 31.8% in the second quarter. BB&T Securities LLC now owns 44,271 shares of the utilities provider’s stock worth $2,309,000 after buying an additional 10,673 shares in the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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