Davidson Capital Management Inc. Makes New $1.62 Million Investment in ONEOK, Inc. (NYSE:OKE)

Davidson Capital Management Inc. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,789 shares of the utilities provider's stock, valued at approximately $1,621,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. International Assets Investment Management LLC lifted its holdings in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. M&G Plc bought a new position in shares of ONEOK in the first quarter valued at approximately $77,634,000. Kayne Anderson Capital Advisors LP grew its stake in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider's stock worth $297,059,000 after acquiring an additional 825,464 shares in the last quarter. Bahl & Gaynor Inc. grew its position in ONEOK by 3,648.4% in 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 in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in ONEOK by 370.1% during the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider's stock worth $49,327,000 after acquiring an additional 484,403 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

NYSE:OKE traded down $0.48 during trading hours on Tuesday, hitting $95.54. 2,898,852 shares of the company's stock traded hands, compared to its average volume of 2,725,797. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43. The business's fifty day simple moving average is $93.01 and its two-hundred day simple moving average is $85.44. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The firm has a market cap of $55.80 billion, a P/E ratio of 20.81, a P/E/G ratio of 4.17 and a beta of 1.67.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.14%. ONEOK's payout ratio is 86.27%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of ONEOK from $82.00 to $94.00 and gave the stock an "equal weight" rating in a report on Monday, September 16th. Truist Financial upped their price objective on ONEOK from $81.00 to $83.00 and gave the company a "hold" rating in a research note on Wednesday, July 31st. Morgan Stanley raised ONEOK from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on ONEOK from $91.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Eight 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $94.77.

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.