Seaport Global Securities started coverage on shares of ONEOK (NYSE:OKE) in a research note released on Tuesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $60.00 price target on the utilities provider’s stock.
Several other research firms have also issued reports on OKE. TheStreet upgraded shares of ONEOK from a c+ rating to a b- rating in a research report on Tuesday, April 10th. Zacks Investment Research lowered shares of ONEOK from a buy rating to a hold rating in a research report on Wednesday, April 11th. Robert W. Baird set a $55.00 target price on shares of ONEOK and gave the company a hold rating in a research report on Wednesday, February 28th. Royal Bank of Canada upgraded shares of ONEOK from a sector perform rating to an outperform rating in a research report on Tuesday, January 16th. Finally, BMO Capital Markets reiterated a buy rating and set a $64.00 target price on shares of ONEOK in a research report on Tuesday, January 16th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $61.13.
NYSE OKE opened at $59.54 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $24,568.25, a price-to-earnings ratio of 33.83, a P/E/G ratio of 2.47 and a beta of 1.22. ONEOK has a 52-week low of $47.14 and a 52-week high of $61.36.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $4.10 billion. ONEOK had a net margin of 3.19% and a return on equity of 10.46%. During the same period last year, the business posted $0.43 EPS. research analysts forecast that ONEOK will post 2.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be given a $0.795 dividend. The ex-dividend date of this dividend is Friday, April 27th. This is a positive change from ONEOK’s previous quarterly dividend of $0.77. This represents a $3.18 dividend on an annualized basis and a yield of 5.34%. ONEOK’s payout ratio is 175.00%.
In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $56.70, for a total value of $124,740.00. Following the transaction, the vice president now directly owns 31,244 shares in the company, valued at $1,771,534.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eduardo A. Rodriguez sold 2,100 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $56.94, for a total transaction of $119,574.00. Following the completion of the transaction, the director now owns 16,025 shares in the company, valued at $912,463.50. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Delpha Capital Management LLC acquired a new position in ONEOK in the fourth quarter valued at about $134,000. Tower Research Capital LLC TRC boosted its position in ONEOK by 562.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $147,000 after buying an additional 2,322 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of ONEOK in the third quarter worth about $169,000. Wealthsource Partners LLC bought a new position in shares of ONEOK in the fourth quarter worth about $203,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of ONEOK in the fourth quarter worth about $205,000. Hedge funds and other institutional investors own 68.49% of the company’s stock.
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ONEOK Company Profile
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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