Caprock Group LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

Caprock Group LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 267.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,101 shares of the utilities provider's stock after purchasing an additional 25,549 shares during the quarter. Caprock Group LLC's holdings in ONEOK were worth $3,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Matrix Trust Co bought a new position in shares of ONEOK during the third quarter valued at approximately $29,000. Quest Partners LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new position in ONEOK in the second quarter worth approximately $31,000. Access Investment Management LLC purchased a new position in ONEOK during the 3rd quarter worth $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK during the 3rd quarter worth $44,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on OKE shares. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Truist Financial upped their target price on ONEOK from $83.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Finally, Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $100.38.

ONEOK Trading Up 0.0 %

NYSE OKE traded up $0.05 on Wednesday, reaching $113.16. 2,478,033 shares of the company were exchanged, compared to its average volume of 2,771,146. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $114.33. The stock has a market capitalization of $66.11 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. The business's fifty day moving average price is $97.38 and its 200 day moving average price is $88.22. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. Analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.50%. ONEOK's dividend payout ratio is currently 82.85%.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business's stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

ONEOK Profile

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.