ONEOK (NYSE:OKE) Price Target Lowered to $91.00 at Barclays

ONEOK (NYSE:OKE) had its target price decreased by Barclays from $101.00 to $91.00 in a research note published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

OKE has been the subject of a number of other reports. Stifel Nicolaus lowered their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Up 0.9%

Shares of NYSE:OKE opened at $83.27 on Tuesday. The business has a 50-day moving average price of $84.57 and a 200 day moving average price of $95.91. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $52.01 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 3.77 and a beta of 1.01. ONEOK has a 12-month low of $75.48 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business posted $1.09 earnings per share. Sell-side analysts expect that ONEOK will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.95%. The ex-dividend date was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

Institutional Investors Weigh In On ONEOK

Institutional investors have recently added to or reduced their stakes in the business. Greenline Partners LLC acquired a new position in ONEOK during the fourth quarter worth approximately $32,000. First Pacific Financial acquired a new position in shares of ONEOK in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $37,000. Financial Network Wealth Advisors LLC boosted its stake in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock valued at $38,000 after buying an additional 370 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of ONEOK in the fourth quarter valued at approximately $39,000. Hedge funds and other 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.