SeaCrest Wealth Management LLC Acquires 1,403 Shares of ONEOK, Inc. (NYSE:OKE)

SeaCrest Wealth Management LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 21.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,903 shares of the utilities provider’s stock after purchasing an additional 1,403 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in ONEOK were worth $720,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in ONEOK during the 1st quarter valued at about $25,000. Quest Partners LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Matrix Trust Co purchased a new stake in shares of ONEOK in the third quarter valued at approximately $29,000. Ridgewood Investments LLC bought a new position in ONEOK in the second quarter worth approximately $31,000. Finally, American National Bank purchased a new position in ONEOK during the 1st quarter worth $32,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.7 %

Shares of OKE stock opened at $95.65 on Thursday. The stock’s fifty day moving average price is $91.32 and its 200 day moving average price is $84.44. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.01. The company has a market cap of $55.83 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.04 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal 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 issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.14%. ONEOK’s dividend payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Truist Financial increased their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.08.

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.