Recently, several hedge funds and institutional investors have changed their positions in ONEOK. Park Avenue Securities LLC increased its share by 13.1% in the first quarter, now holding 7,478 shares worth $600,000. &PARTNERS also bought shares valued at around $518,000. Ballentine Partners LLC raised its stake by 8.2%, owning 4,224 shares worth $339,000. Global Assets Advisory LLC invested around $3.2 million and Ignite Planners LLC bought shares worth about $214,000. Overall, institutional investors hold 69.13% of ONEOK’s stock.
ONEOK Price Performance
ONEOK’s stock opened at $97.23 on Monday, with a 1-year low of $63.33 and a high of $98.01. Key metrics include a debt-to-equity ratio of 1.22, a current ratio of 0.62, and a quick ratio of 0.41. The market cap is $56.79 billion, with a P/E ratio of 21.18 and a beta of 1.67. Its fifty-day moving average is $91.79, and the two-hundred-day moving average is $84.71.
ONEOK (NYSE:OKE) reported earnings of $1.33 per share on August 5, exceeding expectations of $1.21. Revenue was $4.89 billion, below the expected $5.52 billion, with a net margin of 13.41% and a return on equity of 15.54%. Analysts predict earnings of $5.09 per share for the current fiscal year.
ONEOK Dividend Announcement
ONEOK declared a quarterly dividend of $0.99 per share, payable on November 14. This translates to an annual dividend of $3.96, with a yield of 4.07%. The ex-dividend date is November 1, and the payout ratio is 86.27%.
Wall Street Analysts Forecast Growth
Several firms recently upgraded their ratings for ONEOK. Mizuho raised its target price to $85, while Morgan Stanley increased its target to $111. Citigroup set a target of $102, and Bank of America initiated coverage with a $105 target. Overall, the consensus rating is “Moderate Buy” with a target price of $94.77.
Insider Buying and Selling
On September 5, Director Pattye L. Moore sold 3,379 shares at an average price of $92.01, totaling $310,901.79. Corporate insiders own 0.20% of the stock.
About ONEOK
ONEOK, Inc. engages in the gathering, processing, storage, and transportation of natural gas and natural gas liquids (NGL) across the United States.
Further Reading
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