Oneok Inc. (OKE) Sets New 1-Year High at $49.70
Oneok Inc. (NYSE:OKE)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $49.70 and last traded at $49.48, with a volume of 955,158 shares. The stock had previously closed at $49.62.
Several brokerages have issued reports on OKE. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 price objective (up previously from $39.00) on shares of Oneok in a report on Tuesday. Royal Bank Of Canada raised their price objective on Oneok from $39.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday. Zacks Investment Research lowered Oneok from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Jefferies Group reaffirmed a “hold” rating on shares of Oneok in a report on Wednesday, August 3rd. Finally, Citigroup Inc. raised their price target on Oneok from $35.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.71.
The stock’s 50 day moving average price is $46.40 and its 200-day moving average price is $36.98. The company has a market capitalization of $10.44 billion and a P/E ratio of 39.23.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.03. During the same quarter last year, the business posted $0.36 EPS. Analysts anticipate that Oneok Inc. will post $1.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Sunday, August 14th. Stockholders of record on Monday, August 15th were paid a $0.615 dividend. The ex-dividend date was Thursday, August 4th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.96%.
Several large investors recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Oneok by 21.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,900 shares of the company’s stock worth $1,970,000 after buying an additional 14,100 shares during the period. Marshall Wace LLP bought a new stake in shares of Oneok during the fourth quarter worth about $5,260,000. Schwab Charles Investment Management Inc. raised its stake in shares of Oneok by 9.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 939,169 shares of the company’s stock worth $23,160,000 after buying an additional 82,599 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of Oneok by 17.0% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,777,045 shares of the company’s stock worth $117,791,000 after buying an additional 694,396 shares during the period.
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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