Morgan Stanley Increases ONEOK (NYSE:OKE) Price Target to $93.00

ONEOK (NYSE:OKEFree Report) had its price objective upped by Morgan Stanley from $90.00 to $93.00 in a report published on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on the company. Citigroup upped their price target on ONEOK from $73.00 to $83.00 and gave the stock a buy rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised their target price on ONEOK from $88.00 to $89.00 and gave the company an overweight rating in a research report on Friday, May 3rd. Truist Financial boosted their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a hold rating in a report on Thursday, March 21st. UBS Group lifted their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Finally, US Capital Advisors downgraded shares of ONEOK from an overweight rating to a hold rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of Hold and an average target price of $84.25.

Get Our Latest Research Report on ONEOK

ONEOK Price Performance

Shares of NYSE:OKE opened at $78.76 on Monday. ONEOK has a twelve month low of $57.37 and a twelve month high of $83.31. The stock’s 50 day moving average is $79.82 and its 200-day moving average is $74.83. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $45.97 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 4.29 and a beta of 1.65.

ONEOK (NYSE:OKEGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the prior year, the company posted $2.34 earnings per share. Sell-side analysts forecast that ONEOK will post 4.94 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.03%. ONEOK’s dividend payout ratio is presently 92.09%.

Institutional Investors Weigh In On ONEOK

Several hedge funds have recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC bought a new position in ONEOK during the third quarter valued at approximately $294,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in ONEOK by 29.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 357,869 shares of the utilities provider’s stock worth $22,700,000 after purchasing an additional 80,375 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in ONEOK by 26.6% during the third quarter. Mutual of America Capital Management LLC now owns 81,488 shares of the utilities provider’s stock valued at $5,169,000 after buying an additional 17,136 shares during the period. Blair William & Co. IL grew its stake in shares of ONEOK by 249.9% during the third quarter. Blair William & Co. IL now owns 158,767 shares of the utilities provider’s stock valued at $10,071,000 after buying an additional 113,389 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in shares of ONEOK by 6.5% in the third quarter. Greenleaf Trust now owns 8,706 shares of the utilities provider’s stock worth $552,000 after buying an additional 529 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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