ONEOK, Inc., a major player in the natural gas and natural gas liquids sector, has recently received mixed analyst ratings and price target adjustments.
Barclays has increased its price target for ONEOK from $94.00 to $99.00, while maintaining an "equal weight" rating. Bank of America, on the other hand, has initiated coverage with a more bullish stance, assigning a "buy" rating and setting a price objective of $105.00. Scotiabank has also raised its target price for ONEOK from $88.00 to $102.00 and designated the stock with a "sector outperform" rating. The consensus among analysts currently leans towards a "Moderate Buy," with a collective price target averaging around $100.38.
Institutional investors continue to play a significant role in ONEOK's stock dynamics, with various institutional investors either increasing or decreasing their stakes in the company. Insider trading activity has also been noted, with Director Pattye L. Moore selling shares.
ONEOK's recent quarterly earnings report showed mixed performance, with the company falling short of analysts' expectations in terms of earnings per share and revenue. However, ONEOK has demonstrated a solid return on equity and net margin, indicating profitability even in challenging market conditions. The stock has shown resilience, trading at a certain price with a certain market capitalization. ONEOK has also made headlines with its recent dividend announcement, declaring a quarterly dividend that translates to an annualized dividend yield. The dividend payout ratio currently stands at a certain percentage, indicating a commitment to returning value to shareholders.
Recent analyst ratings have shown a mix of optimism and caution regarding ONEOK's future, with some analysts raising their target price and assigning a more favorable outlook. The consensus among analysts, institutional investment trends, and financial performance will shape the narrative surrounding ONEOK in the coming months.