Lindbrook Capital LLC Purchases 7,015 Shares of ONEOK, Inc. (NYSE:OKE)

Lindbrook Capital LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 44.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,945 shares of the utilities provider's stock after purchasing an additional 7,015 shares during the quarter. Lindbrook Capital LLC's holdings in ONEOK were worth $2,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quest Partners LLC purchased a new position in shares of ONEOK during the second quarter valued at about $28,000. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter worth about $29,000. Ridgewood Investments LLC bought a new position in ONEOK during the 2nd quarter valued at about $31,000. Values First Advisors Inc. bought a new stake in ONEOK in the third quarter worth about $44,000. Finally, Fortitude Family Office LLC boosted its position in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock valued at $45,000 after buying an additional 135 shares during the period. Institutional investors own 69.13% of the company's stock.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

ONEOK Trading Up 2.9 %

OKE stock traded up $3.02 during trading on Friday, reaching $107.16. 3,580,082 shares of the stock traded hands, compared to its average volume of 2,621,994. ONEOK, Inc. has a 52-week low of $63.77 and a 52-week high of $107.19. The business's 50 day moving average price is $94.86 and its 200-day moving average price is $86.63. The firm has a market capitalization of $62.60 billion, a PE ratio of 22.42, a P/E/G ratio of 5.10 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business 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 last year, the firm posted $0.99 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.70%. ONEOK's dividend payout ratio (DPR) is 82.85%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Tudor Pickering upgraded ONEOK to a "hold" rating in a report on Thursday, July 18th. Truist Financial raised their price objective on ONEOK from $83.00 to $99.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.92.

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.