ONEOK (OKE) Rating Reiterated by Stifel Nicolaus
Stifel Nicolaus restated their hold rating on shares of ONEOK (NYSE:OKE) in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have a $61.00 target price on the utilities provider’s stock, up from their prior target price of $55.00.
Several other equities research analysts have also recently commented on OKE. TheStreet cut shares of ONEOK from a b rating to a c+ rating in a research report on Monday, February 26th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $58.00 to $62.00 and gave the stock a neutral rating in a research report on Monday, February 12th. Credit Suisse Group initiated coverage on shares of ONEOK in a research report on Monday, January 8th. They set an outperform rating and a $62.00 price target on the stock. Mizuho restated a hold rating and set a $61.00 price objective on shares of ONEOK in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets restated a buy rating and set a $64.00 price objective on shares of ONEOK in a research note on Tuesday, January 16th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $61.00.
Shares of ONEOK (OKE) traded up $0.57 during trading hours on Wednesday, reaching $57.08. 2,414,234 shares of the company’s stock traded hands, compared to its average volume of 3,120,000. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.42. ONEOK has a 52-week low of $47.14 and a 52-week high of $61.36. The company has a market cap of $23,270.00, a PE ratio of 42.60, a PEG ratio of 2.86 and a beta of 1.26.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th were paid a dividend of $0.77 per share. The ex-dividend date was Friday, January 26th. This is a positive change from ONEOK’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 5.40%. ONEOK’s payout ratio is currently 229.85%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Green Square Capital LLC grew its stake in ONEOK by 552.3% in the 4th quarter. Green Square Capital LLC now owns 85,386 shares of the utilities provider’s stock valued at $4,564,000 after buying an additional 72,296 shares during the last quarter. KCM Investment Advisors LLC acquired a new position in ONEOK in the 4th quarter valued at about $215,000. Penbrook Management LLC acquired a new position in ONEOK in the 4th quarter valued at about $781,000. Xact Kapitalforvaltning AB grew its stake in ONEOK by 16.9% in the 4th quarter. Xact Kapitalforvaltning AB now owns 39,191 shares of the utilities provider’s stock valued at $2,095,000 after buying an additional 5,676 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in ONEOK by 48.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 259,030 shares of the utilities provider’s stock valued at $13,845,000 after buying an additional 84,451 shares during the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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