Oppenheimer Asset Management Inc. Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Oppenheimer Asset Management Inc. boosted its stake in ONEOK, Inc. (NYSE:OKE) by 7.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,361 shares of the utilities provider’s stock after acquiring an additional 2,408 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ONEOK were worth $3,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. raised its holdings in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after buying an additional 232,043 shares during the period. Energy Income Partners LLC increased its stake in ONEOK by 10.3% during the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after purchasing an additional 319,487 shares during the period. Dimensional Fund Advisors LP increased its stake in ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares during the period. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Finally, abrdn plc increased its stake in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after purchasing an additional 277,514 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Royal Bank of Canada boosted their price target 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. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial boosted their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $100.38.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the 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 transaction 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.

ONEOK Stock Performance

Shares of OKE opened at $109.81 on Friday. The stock has a 50 day moving average price of $96.17 and a 200 day moving average price of $87.38. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $64.15 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 5.40 and a beta of 1.66. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $110.05.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the company earned $0.99 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.