Peregrine Asset Advisers Inc. Has $9 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Peregrine Asset Advisers Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 84.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,730 shares of the utilities provider's stock after buying an additional 45,172 shares during the quarter. ONEOK comprises approximately 3.1% of Peregrine Asset Advisers Inc.'s holdings, making the stock its 3rd largest position. Peregrine Asset Advisers Inc.'s holdings in ONEOK were worth $8,997,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Patten & Patten Inc. TN acquired a new position in shares of ONEOK in the third quarter worth about $201,000. Ashton Thomas Securities LLC bought a new position in ONEOK during the third quarter worth about $115,000. Los Angeles Capital Management LLC grew its position in shares of ONEOK by 34.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 37,258 shares of the utilities provider's stock valued at $3,395,000 after purchasing an additional 9,497 shares during the period. Arvest Investments Inc. bought a new position in shares of ONEOK during the 3rd quarter worth approximately $1,869,000. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in ONEOK by 2.4% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,566 shares of the utilities provider's stock worth $781,000 after acquiring an additional 200 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

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

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Tudor Pickering raised shares of ONEOK to a "hold" rating in a report on Thursday, July 18th. Truist Financial upped their target price on ONEOK from $83.00 to $99.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Scotiabank upped their price objective on ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 30th. Finally, Citigroup raised their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.92.

ONEOK Stock Up 1.4 %

ONEOK stock traded up $1.51 during mid-day trading on Monday, reaching $108.67. The stock had a trading volume of 1,204,725 shares, compared to its average volume of 2,747,292. The stock's 50-day simple moving average is $94.86 and its 200-day simple moving average is $86.71. ONEOK, Inc. has a fifty-two week low of $63.77 and a fifty-two week high of $108.78. The firm has a market capitalization of $63.48 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE - Get Free Report) last posted 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). 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 analysts' expectations of $5.81 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, November 1st. ONEOK's payout ratio is 82.85%.

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.