OmniStar Financial Group Inc. Has $1.59 Million Holdings in ONEOK, Inc. (NYSE:OKE)

OmniStar Financial Group Inc. lifted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 79.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,362 shares of the utilities provider's stock after buying an additional 7,694 shares during the period. ONEOK makes up 1.2% of OmniStar Financial Group Inc.'s portfolio, making the stock its 21st biggest position. OmniStar Financial Group Inc.'s holdings in ONEOK were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Rise Advisors LLC purchased a new position in ONEOK in the 1st quarter valued at about $25,000. Matrix Trust Co purchased a new position in ONEOK in the third quarter valued at about $29,000. Quest Partners LLC acquired a new stake in ONEOK during the 2nd quarter valued at approximately $28,000. Ridgewood Investments LLC purchased a new stake in ONEOK during the 2nd quarter worth approximately $31,000. Finally, American National Bank acquired a new position in shares of ONEOK in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKE. Barclays raised their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Monday, September 16th. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Truist Financial increased their price target on shares of ONEOK from $81.00 to $83.00 and gave the stock a "hold" rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday. Finally, Tudor Pickering raised ONEOK to a "hold" rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.77.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

ONEOK Stock Performance

Shares of OKE stock traded up $0.79 during trading hours on Friday, reaching $97.23. The stock had a trading volume of 2,121,069 shares, compared to its average volume of 2,747,991. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a 50-day simple moving average of $91.79 and a 200-day simple moving average of $84.65. The firm has a market capitalization of $56.75 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.01.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK's payout ratio is currently 92.09%.

ONEOK Company 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.