ONEOK (NYSE:OKE) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of ONEOK (NYSE:OKE) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $80.00 price objective on the utilities provider’s stock.

A number of other analysts have also recently weighed in on OKE. UBS Group restated a “buy” rating on shares of ONEOK in a research note on Wednesday, January 7th. Wells Fargo & Company dropped their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Scotiabank restated an “outperform” rating and set a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Stifel Nicolaus set a $94.00 price objective on ONEOK in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $88.56.

ONEOK Trading Up 3.5%

ONEOK stock opened at $78.46 on Tuesday. ONEOK has a one year low of $64.02 and a one year high of $107.50. The company’s fifty day moving average price is $72.97 and its two-hundred day moving average price is $73.57. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The company has a market capitalization of $49.37 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 4.26 and a beta of 0.94.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, analysts forecast that ONEOK will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a dividend of $1.07 per share. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.5%. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio is presently 75.74%.

Insider Buying and Selling

In other news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. City Holding Co. acquired a new stake in ONEOK during the third quarter worth $28,000. Winnow Wealth LLC acquired a new stake in shares of ONEOK during the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates bought a new stake in ONEOK in the third quarter valued at about $29,000. Financial Consulate Inc. bought a new stake in ONEOK in the third quarter valued at about $29,000. Finally, SRH Advisors LLC raised its position in ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 241 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.