ONEOK (NYSE:OKE) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of ONEOK (NYSE:OKE) in a report issued on Friday, MarketBeat reports. The firm issued a buy rating and a $110.00 price objective on the utilities provider’s stock.

A number of other research analysts have also issued reports on the stock. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Barclays initiated coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Stock Up 3.8 %

Shares of OKE opened at $100.29 on Friday. ONEOK has a 52 week low of $74.39 and a 52 week high of $118.07. The firm has a market cap of $58.59 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s 50-day simple moving average is $100.91 and its 200 day simple moving average is $99.10. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, analysts forecast that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.11%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

Hedge Funds Weigh In On ONEOK

Large investors have recently modified their holdings of the business. National Pension Service increased its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its position in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV increased its position in shares of ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares during the period. FNY Investment Advisers LLC increased its position in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after buying an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its position in shares of ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 5,321 shares during the period. 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.