Bank of Montreal Can Purchases 44,293 Shares of ONEOK, Inc. (NYSE:OKE)

Bank of Montreal Can grew its holdings in ONEOK, Inc. (NYSE:OKE) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 867,616 shares of the utilities provider’s stock after purchasing an additional 44,293 shares during the quarter. Bank of Montreal Can owned approximately 0.15% of ONEOK worth $78,294,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Quest Partners LLC bought a new position in ONEOK in the second quarter valued at approximately $28,000. Matrix Trust Co bought a new position in shares of ONEOK in the 3rd quarter worth $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth $31,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new position in ONEOK during the third quarter worth about $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 1.7 %

Shares of OKE stock opened at $113.45 on Wednesday. The firm’s fifty day moving average price is $99.60 and its two-hundred day moving average price is $89.46. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07. The firm has a market capitalization of $66.28 billion, a P/E ratio of 23.73, a PEG ratio of 5.56 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company 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 in the previous year, the company posted $0.99 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.49%. ONEOK’s dividend payout ratio is presently 82.85%.

Analyst Ratings Changes

A number of brokerages have recently commented on OKE. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Wells Fargo & Company upped their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Finally, Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.38.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

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.