Arvest Bank Trust Division Invests $2.64 Million in ONEOK, Inc. (NYSE:OKE)

Arvest Bank Trust Division acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,975 shares of the utilities provider's stock, valued at approximately $2,640,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Sequoia Financial Advisors LLC raised its position in shares of ONEOK by 7.2% in the second quarter. Sequoia Financial Advisors LLC now owns 7,978 shares of the utilities provider's stock valued at $651,000 after buying an additional 537 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of ONEOK by 14.1% during the second quarter. Diversified Trust Co now owns 4,586 shares of the utilities provider's stock worth $374,000 after purchasing an additional 567 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of ONEOK by 1.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 199,762 shares of the utilities provider's stock valued at $16,291,000 after purchasing an additional 2,042 shares during the period. Great Valley Advisor Group Inc. increased its stake in ONEOK by 30.8% in the second quarter. Great Valley Advisor Group Inc. now owns 11,248 shares of the utilities provider's stock valued at $917,000 after purchasing an additional 2,647 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in ONEOK by 10.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,240 shares of the utilities provider's stock worth $427,000 after buying an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on OKE. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Mizuho raised shares of ONEOK to a "hold" rating in a research note on Thursday, November 7th. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.00.

ONEOK Stock Up 0.1 %

Shares of NYSE OKE traded up $0.14 during trading on Thursday, reaching $104.47. 2,015,116 shares of the stock were exchanged, compared to its average volume of 2,805,270. The company has a market capitalization of $61.03 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 5.49 and a beta of 1.69. The business's 50-day moving average price is $103.17 and its 200 day moving average price is $91.52. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $65.49 and a twelve month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the firm earned $0.99 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.79%. ONEOK's dividend payout ratio (DPR) is presently 82.85%.

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.