ONEOK (NYSE:OKE) Given New $81.00 Price Target at Morgan Stanley

ONEOK (NYSE:OKEGet Rating) had its price target hoisted by Morgan Stanley from $70.00 to $81.00 in a report released on Monday, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Several other research firms have also recently weighed in on OKE. Wells Fargo & Company raised shares of ONEOK from an equal weight rating to an overweight rating and increased their price target for the company from $68.00 to $75.00 in a research note on Friday, December 16th. Truist Financial increased their price target on shares of ONEOK from $69.00 to $73.00 and gave the company a buy rating in a research note on Wednesday, December 21st. StockNews.com assumed coverage on shares of ONEOK in a research note on Wednesday, October 12th. They issued a hold rating for the company. Barclays lowered their price objective on shares of ONEOK from $62.00 to $59.00 and set an equal weight rating for the company in a research report on Wednesday, October 19th. Finally, Citigroup assumed coverage on shares of ONEOK in a research report on Thursday, December 8th. They set a neutral rating and a $67.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $68.45.

ONEOK Stock Up 1.7 %

OKE stock opened at $67.69 on Monday. The firm has a 50-day moving average of $64.44 and a two-hundred day moving average of $60.56. ONEOK has a 12 month low of $50.50 and a 12 month high of $75.07. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.89. The company has a market cap of $30.25 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.75 and a beta of 1.70.

ONEOK (NYSE:OKEGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The utilities provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. ONEOK had a net margin of 7.10% and a return on equity of 26.46%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $6.52 billion. As a group, analysts forecast that ONEOK will post 3.84 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Tuesday, November 1st were given a $0.935 dividend. The ex-dividend date was Monday, October 31st. This represents a $3.74 annualized dividend and a yield of 5.53%. ONEOK’s dividend payout ratio is presently 103.89%.

Hedge Funds Weigh In On ONEOK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aviva PLC raised its holdings in shares of ONEOK by 101.0% in the 2nd quarter. Aviva PLC now owns 325,043 shares of the utilities provider’s stock valued at $18,040,000 after purchasing an additional 163,332 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of ONEOK in the 2nd quarter valued at $116,000. AdvisorNet Financial Inc raised its holdings in shares of ONEOK by 10.4% in the 3rd quarter. AdvisorNet Financial Inc now owns 23,657 shares of the utilities provider’s stock valued at $1,212,000 after purchasing an additional 2,235 shares in the last quarter. Monarch Capital Management Inc. raised its holdings in shares of ONEOK by 90.7% in the 3rd quarter. Monarch Capital Management Inc. now owns 7,779 shares of the utilities provider’s stock valued at $399,000 after purchasing an additional 3,700 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of ONEOK by 1.0% in the 2nd quarter. State Street Corp now owns 33,164,685 shares of the utilities provider’s stock valued at $1,840,640,000 after purchasing an additional 339,036 shares in the last quarter. Hedge funds and other institutional investors own 67.16% of the company’s stock.

About ONEOK

(Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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