In yesterday’s Wall Street session, ONEOK Inc. (NYSE:OKE) shares traded at $60.94, down -1.06% from the previous session.
As of this writing, 18 analysts cover ONEOK Inc. (NYSE:OKE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.00 and a low of $57.00, we find $71.00. Given the previous closing price of $61.59, this indicates a potential upside of 15.28 percent. OKE stock price is now 0.45% away from the 50-day moving average and -2.94% away from the 200-day moving average. The market capitalization of the company currently stands at $26.84B.
There are 7 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $71.13 as their price target over the next twelve months.
With the price target enhanced from $71 to $72, Citigroup Upgraded its rating from Neutral to Buy for ONEOK Inc. (NYSE: OKE).
In other news, NORTON PIERCE, President & CEO bought 24,607 shares of the company’s stock on Jun 29. The stock was bought for $1,500,018 at an average price of $60.96. Upon completion of the transaction, the President & CEO now directly owns 42,017 shares in the company, valued at $2.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 28, Director DERKSEN BRIAN L bought 4,900 shares of the business’s stock. A total of $291,989 was incurred on buying the stock at an average price of $59.59. This leaves the insider owning 18,700 shares of the company worth $1.14 million. Insiders disposed of 27,655 shares of company stock worth roughly $1.69 million over the past 1 year. A total of 0.46% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OKE stock. A new stake in ONEOK Inc. shares was purchased by MARSHALL WACE, LLP during the first quarter worth $35,764,000. EXODUSPOINT CAPITAL MANAGEMENT, LP invested $15,867,000 in shares of OKE during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in ONEOK Inc. valued at approximately $11,327,000. TWIN TREE MANAGEMENT, LP acquired a new stake in OKE for approximately $10,779,000. TRANSFORM WEALTH, LLC purchased a new stake in OKE valued at around $10,254,000 in the second quarter. In total, there are 1,370 active investors with 69.80% ownership of the company’s stock.
Thursday morning saw ONEOK Inc. (NYSE: OKE) opened at $61.11. During the past 12 months, ONEOK Inc. has had a low of $50.50 and a high of $71.57. As of last week, the company has a debt-to-equity ratio of 1.85, a current ratio of 1.20, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $39.89B, which is based on a 11.49 price-to-earnings ratio, a 1.49 price-to-earnings-growth ratio, and a beta of 1.63. The fifty day moving average price for OKE is $60.54 and a two-hundred day moving average price translates $62.79 for the stock.
The latest earnings results from ONEOK Inc. (NYSE: OKE) was released for Mar, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $2.34, beating analysts’ expectations of $2.28 by 0.06. This compares to $0.87 EPS in the same period last year. The net profit margin was 11.10% and return on equity was 36.50% for OKE. The company reported revenue of $4.52 billion for the quarter, compared to $5.45 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -16.97 percent. For the current quarter, analysts expect OKE to generate $5.31B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/15/2023. Investors who held shares on 05/01/2023 were paid a $0.955 dividend. On an annualized basis, this represents a $3.82 dividend and a 6.27% percent yield. There was an ex-dividend date of 04/28/2023 for this dividend. In terms of dividend payout ratio, OKE is presently at 70.80%.
ONEOK Inc.(OKE) Company Profile
ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also provides midstream services to producers of NGLs. The company owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Missouri, Nebraska, Iowa, and Illinois; NGL distribution pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana; and transports refined petroleum products, including unleaded gasoline and diesel from Kansas to Iowa, as well as owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, it transports and stores natural gas through regulated interstate and intrastate natural gas transmission pipelines, and natural gas storage facilities. Further, the company owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space and rail cars. It serves integrated and independent exploration and production companies; NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; utilities; industrial companies; propane distributors; municipalities; ethanol producers; and petrochemical, refining, and NGL marketing companies, as well as natural gas distribution and electric generation companies, producers, processors, and marketing companies. ONEOK, Inc. was founded in 1906 and is headquartered in Tulsa, Oklahoma.
