Latest Stocks: Royal Bank of Canada Reaffirms Hold Rating for ONEOK, Inc. (OKE)

Latest Stocks: Royal Bank of Canada Reaffirms Hold Rating for ONEOK, Inc. (OKE)

Royal Bank of Canada reaffirmed their hold rating on shares of ONEOK, Inc. (NYSE:OKE) in a research report sent to investors on Friday, May 12th. They currently have a $58.00 price objective on the utilities provider’s stock.

Several other analysts also recently weighed in on the company. Guggenheim began coverage on ONEOK in a research report on Monday, April 17th. They set a buy rating and a $62.00 price objective for the company. BMO Capital Markets restated a hold rating and set a $53.00 price objective on shares of ONEOK in a research report on Monday, April 17th. Zacks Investment Research downgraded ONEOK from a strong-buy rating to a hold rating in a research report on Tuesday, April 4th. Jefferies Group LLC reiterated a hold rating and issued a $51.00 target price on shares of ONEOK in a research report on Friday, March 31st. Finally, TheStreet upgraded ONEOK from a c+ rating to a b- rating in a research report on Monday, March 6th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $56.91.

ONEOK (NYSE:OKE) opened at 49.32 on Friday. The stock’s 50 day moving average is $51.82 and its 200-day moving average is $54.48. The firm has a market capitalization of $10.40 billion, a PE ratio of 29.44 and a beta of 1.19. ONEOK has a 52-week low of $42.79 and a 52-week high of $59.47. ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.04. ONEOK had a return on equity of 164.07% and a net margin of 6.77%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.82 billion. Equities analysts expect that ONEOK will post $1.88 earnings per share for the current year.

ONEOK (NYSE:OKE) opened at 49.32 on Friday. The stock’s 50 day moving average is $51.82 and its 200-day moving average is $54.48. The firm has a market capitalization of $10.40 billion, a PE ratio of 29.44 and a beta of 1.19. ONEOK has a 52-week low of $42.79 and a 52-week high of $59.47. The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were paid a $0.615 dividend. The ex-dividend date was Thursday, April 27th. This represents a $2.46 dividend on an annualized basis and a yield of 4.99%. ONEOK’s dividend payout ratio (DPR) is presently 182.22%.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock worth $1,036,584,000 after buying an additional 18,091,903 shares during the period. Norges Bank bought a new position in ONEOK during the fourth quarter worth $106,193,000. Renaissance Technologies LLC bought a new position in ONEOK during the first quarter worth $90,888,000. Janus Capital Management LLC raised its position in ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock worth $150,838,000 after buying an additional 1,204,683 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock worth $475,243,000 after buying an additional 1,190,284 shares in the last quarter. 72.13% of the stock is owned by hedge funds and other institutional investors. ONEOK Company Profile

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