Oneok Inc. (OKE) Shares Gap Up to $47.95
Oneok Inc. (NYSE:OKE)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $47.80, but opened at $47.95. Oneok shares last traded at $48.81, with a volume of 712,343 shares.
A number of equities analysts have commented on OKE shares. Credit Suisse Group AG boosted their price objective on Oneok from $34.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, May 5th. Jefferies Group restated a “buy” rating and set a $34.00 target price on shares of Oneok in a research report on Thursday, May 5th. Goldman Sachs Group Inc. boosted their target price on Oneok from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, May 5th. Barclays PLC upgraded Oneok from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $49.00 in a research report on Monday, May 9th. Finally, US Capital Advisors downgraded Oneok from an “overweight” rating to a “hold” rating in a research report on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $37.71.
The firm has a market capitalization of $10.44 billion and a P/E ratio of 39.23. The stock has a 50 day moving average of $46.47 and a 200 day moving average of $37.17.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.03. During the same quarter in the previous year, the business earned $0.36 earnings per share. Analysts predict that Oneok Inc. will post $1.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, August 14th. Investors of record on Monday, August 15th were issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Thursday, August 4th.
Several large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Oneok by 9.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 939,169 shares of the company’s stock valued at $23,160,000 after buying an additional 82,599 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Oneok by 21.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,900 shares of the company’s stock valued at $1,970,000 after buying an additional 14,100 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in Oneok by 17.0% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,777,045 shares of the company’s stock valued at $117,791,000 after buying an additional 694,396 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Oneok during the fourth quarter valued at $5,260,000.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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