Premier Fund Managers Ltd Purchases 6,750 Shares of ONEOK, Inc. (NYSE:OKE)

Premier Fund Managers Ltd increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,750 shares of the utilities provider's stock after buying an additional 6,750 shares during the quarter. Premier Fund Managers Ltd's holdings in ONEOK were worth $6,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in ONEOK by 9,439.9% in the 3rd 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. Bahl & Gaynor Inc. raised its stake in ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider's stock worth $41,995,000 after acquiring an additional 501,216 shares in the last quarter. Cetera Investment Advisers raised its stake 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 in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of ONEOK by 3,137.6% in the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider's stock worth $330,000 after acquiring an additional 392,644 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of ONEOK by 119.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider's stock valued at $53,657,000 after purchasing an additional 320,967 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 0.3 %

OKE stock traded down $0.31 during midday trading on Wednesday, hitting $112.80. The stock had a trading volume of 667,546 shares, compared to its average volume of 2,762,974. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The business has a fifty day moving average price of $97.38 and a two-hundred day moving average price of $88.22. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $114.33. The firm has a market cap of $65.90 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66.

ONEOK (NYSE:OKE - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the company earned $0.99 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid 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 3.51%. ONEOK's dividend payout ratio is currently 82.85%.

Analysts Set New Price Targets

Several brokerages recently commented on OKE. Mizuho raised shares of ONEOK to a "hold" rating in a research note on Thursday, November 7th. Citigroup increased their price target on ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Truist Financial boosted their price objective on ONEOK from $83.00 to $99.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded ONEOK from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Wells Fargo & Company lifted their price target on ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $100.38.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate 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.