Axecap Investments LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Axecap Investments LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,387 shares of the utilities provider’s stock, valued at approximately $1,038,000.

Several other institutional investors have also recently made changes to their positions in OKE. Quest Partners LLC purchased a new position in shares of ONEOK during the second quarter valued at $28,000. Matrix Trust Co purchased a new position in ONEOK in the third quarter valued at about $29,000. Ridgewood Investments LLC purchased a new position in ONEOK in the second quarter valued at about $31,000. Manchester Capital Management LLC grew its stake in ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Beacon Capital Management LLC grew its stake in ONEOK by 56.9% in the first quarter. Beacon Capital Management LLC now owns 640 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Wells Fargo & Company lifted their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Truist Financial lifted their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Trading Down 0.6 %

ONEOK stock opened at $96.77 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43. The company has a market capitalization of $56.52 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 4.20 and a beta of 1.67. The stock has a 50-day moving average price of $92.46 and a 200 day moving average price of $85.04.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the company posted $1.04 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.06 EPS for the current 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 yield of 4.09%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is presently 86.27%.

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.