Citigroup Cuts ONEOK (NYSE:OKE) Price Target to $102.00

ONEOK (NYSE:OKE) had its price target reduced by Citigroup from $110.00 to $102.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other research analysts also recently weighed in on the stock. Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Finally, Scotiabank dropped their target price on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 29th. Seven equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Price Performance

NYSE OKE opened at $82.23 on Tuesday. The company has a market capitalization of $51.37 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.77 and a beta of 1.01. ONEOK has a one year low of $75.48 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a 50-day moving average of $89.33 and a 200 day moving average of $98.16.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the firm posted $1.09 earnings per share. On average, sell-side analysts forecast that ONEOK will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.01%. ONEOK’s dividend payout ratio (DPR) is currently 80.47%.

Institutional Investors Weigh In On ONEOK

A number of large investors have recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter valued at approximately $30,000. Greenline Partners LLC bought a new stake in shares of ONEOK in the fourth quarter valued at about $32,000. First Pacific Financial purchased a new stake in shares of ONEOK during the first quarter valued at about $34,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK during the 4th quarter worth approximately $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ONEOK in the 4th quarter valued at $39,000. 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.