ONEOK, Inc. (NYSE:OKE) Shares Bought by Legacy Financial Group Inc.

Legacy Financial Group Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,074 shares of the utilities provider’s stock after acquiring an additional 743 shares during the quarter. ONEOK comprises about 1.3% of Legacy Financial Group Inc.’s investment portfolio, making the stock its 22nd largest holding. Legacy Financial Group Inc.’s holdings in ONEOK were worth $3,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Norges Bank acquired a new position in shares of ONEOK during the fourth quarter valued at $297,948,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in ONEOK by 91.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,125 shares of the utilities provider’s stock worth $1,554,000 after purchasing an additional 10,580 shares during the period. Corient Private Wealth LLC lifted its holdings in ONEOK by 28.8% in the fourth quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock worth $11,154,000 after purchasing an additional 35,518 shares during the period. CreativeOne Wealth LLC lifted its holdings in ONEOK by 25.3% in the fourth quarter. CreativeOne Wealth LLC now owns 15,361 shares of the utilities provider’s stock worth $1,078,000 after purchasing an additional 3,099 shares during the period. Finally, Keystone Financial Group acquired a new stake in ONEOK in the fourth quarter worth about $208,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. Barclays upped 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. Scotiabank upped their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada boosted their price target on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average price target of $92.38.

Insider Activity

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

ONEOK Price Performance

NYSE OKE opened at $94.66 on Wednesday. The company has a market cap of $55.29 billion, a PE ratio of 22.01, a PEG ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $94.95. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $86.60 and its two-hundred day moving average price is $82.14.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the prior year, the company earned $1.04 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.18%. ONEOK’s dividend payout ratio is 92.09%.

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.