MCF Advisors LLC Has $221,000 Holdings in ONEOK, Inc. (NYSE:OKE)

MCF Advisors LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,424 shares of the utilities provider’s stock after buying an additional 139 shares during the period. MCF Advisors LLC’s holdings in ONEOK were worth $221,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. raised its position in ONEOK by 3.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after purchasing an additional 378,509 shares during the last quarter. Energy Income Partners LLC lifted its stake in shares of ONEOK by 10.3% in the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after acquiring an additional 319,487 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Barclays increased their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Mizuho lifted their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Truist Financial upped their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $94.77.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

ONEOK Stock Performance

NYSE:OKE traded down $0.76 on Friday, reaching $96.66. 2,171,218 shares of the company’s stock were exchanged, compared to its average volume of 2,726,321. The firm has a market cap of $56.42 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 4.31 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. The stock has a fifty day simple moving average of $92.85 and a 200-day simple moving average of $85.25. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the firm earned $1.04 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.10%. ONEOK’s payout ratio is 92.09%.

About ONEOK

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.