Amarillo National Bank Buys Shares of 4,417 ONEOK, Inc. (NYSE:OKE)

Amarillo National Bank acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, Holdings Channel reports. The fund acquired 4,417 shares of the utilities provider’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter worth $28,000. Matrix Trust Co acquired a new stake in shares of ONEOK during the third quarter worth $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth $31,000. Manchester Capital Management LLC lifted its stake in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after buying an additional 182 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter worth $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the subject of several research reports. Royal Bank of Canada lifted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Truist Financial boosted their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Barclays boosted their target price on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.77.

ONEOK Stock Down 0.8 %

OKE opened at $96.66 on Friday. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a fifty day moving average of $92.85 and a two-hundred day moving average of $85.28. The stock has a market capitalization of $56.42 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 4.31 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the company earned $1.04 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Dividend Announcement

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

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK 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.