Arvest Investments Inc. acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,510 shares of the utilities provider's stock, valued at approximately $1,869,000.
A number of other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock worth $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. M&G Plc purchased a new stake in shares of ONEOK during the first quarter worth about $77,634,000. Bahl & Gaynor Inc. raised its position in shares of ONEOK by 3,648.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider's stock worth $41,995,000 after purchasing an additional 501,216 shares during the last quarter. Cetera Investment Advisers lifted its stake in ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider's stock valued at $49,327,000 after buying an additional 484,403 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in ONEOK by 3,137.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider's stock worth $330,000 after buying an additional 392,644 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.
Insiders Place Their Bets
In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have recently weighed in on OKE. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the company a "sector outperform" rating in a research report on Friday, August 30th. Tudor Pickering upgraded ONEOK to a "hold" rating in a report on Thursday, July 18th. Mizuho lifted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. Truist Financial increased their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Finally, Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and a consensus price target of $96.92.
Get Our Latest Stock Analysis on ONEOK
ONEOK Trading Up 2.9 %
ONEOK stock traded up $3.02 during mid-day trading on Friday, hitting $107.16. The company's stock had a trading volume of 3,580,082 shares, compared to its average volume of 2,725,274. The stock's fifty day moving average is $94.86 and its two-hundred day moving average is $86.67. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $62.60 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66. ONEOK, Inc. has a 1 year low of $63.77 and a 1 year high of $107.19.
ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for 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 period in the previous year, the business posted $0.99 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.
ONEOK Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Friday, November 1st. ONEOK's payout ratio is 82.85%.
ONEOK Profile
(
Free Report)
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.
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