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Safe Harbor Fiduciary LLC Acquires Shares of 38,786 ONEOK, Inc. (NYSE:OKE)

ONEOK logo with Oils/Energy background

Safe Harbor Fiduciary LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 38,786 shares of the utilities provider's stock, valued at approximately $3,535,000. ONEOK accounts for 3.3% of Safe Harbor Fiduciary LLC's investment portfolio, making the stock its 6th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Matrix Trust Co bought a new position in ONEOK in the 3rd quarter valued at about $29,000. Quest Partners LLC purchased a new stake in ONEOK in the 2nd quarter valued at $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the 2nd quarter valued at $31,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter valued at about $44,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and upped their price objective 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 note on Thursday, October 17th. They issued a "buy" rating and a $105.00 price objective for the company. Wells Fargo & Company increased their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Finally, Truist Financial upped their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday. Seven 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 a consensus price target of $101.00.

Get Our Latest Analysis on OKE

ONEOK Price Performance

Shares of OKE stock traded up $1.85 during trading hours on Thursday, hitting $110.59. 1,138,135 shares of the company's stock were exchanged, compared to its average volume of 2,806,375. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07. The company has a market capitalization of $64.60 billion, a PE ratio of 22.75, a PEG ratio of 5.59 and a beta of 1.69. The business's 50 day simple moving average is $101.64 and its 200-day simple moving average is $90.65. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.08 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.58%. ONEOK's dividend payout ratio is currently 82.85%.

ONEOK Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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