Tower Bridge Advisors Purchases 3,895 Shares of ONEOK, Inc. (NYSE:OKE)

Tower Bridge Advisors raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,528 shares of the utilities provider’s stock after acquiring an additional 3,895 shares during the quarter. Tower Bridge Advisors’ holdings in ONEOK were worth $7,430,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in ONEOK by 21.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 844 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of ONEOK by 3.8% during the first quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock valued at $437,000 after buying an additional 198 shares during the last quarter. Nwam LLC purchased a new position in shares of ONEOK in the first quarter worth $201,000. Partners Group Holding AG bought a new position in shares of ONEOK during the first quarter worth $207,000. Finally, Bahl & Gaynor Inc. grew its stake in ONEOK by 6.8% during the first quarter. Bahl & Gaynor Inc. now owns 13,738 shares of the utilities provider’s stock valued at $1,101,000 after acquiring an additional 875 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 1.8 %

Shares of OKE opened at $109.81 on Friday. The company’s fifty day simple moving average is $96.54 and its 200-day simple moving average is $87.64. The company has a market cap of $64.15 billion, a P/E ratio of 22.97, a P/E/G ratio of 5.48 and a beta of 1.66. 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 twelve month low of $64.68 and a twelve month high of $110.05.

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

ONEOK Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on OKE. Citigroup increased their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Truist Financial increased their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, 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 report on Wednesday, October 16th. Eight research 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.

Insiders Place Their Bets

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

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.