ONEOK, Inc. (NYSE:OKE) Stock Holdings Lifted by Stolper Co

Stolper Co raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,792 shares of the utilities provider’s stock after acquiring an additional 1,154 shares during the period. ONEOK comprises approximately 3.7% of Stolper Co’s investment portfolio, making the stock its 4th largest holding. Stolper Co’s holdings in ONEOK were worth $10,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its stake in shares of ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after purchasing an additional 232,043 shares during the period. Northern Trust Corp grew its position in shares of ONEOK by 1.5% during the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock valued at $404,055,000 after acquiring an additional 85,736 shares during the period. Norges Bank purchased a new stake in shares of ONEOK during the 4th quarter worth approximately $297,948,000. Kayne Anderson Capital Advisors LP raised its holdings in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in ONEOK by 12.3% during the first 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 period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock opened at $91.37 on Friday. The firm has a 50 day simple moving average of $86.12 and a two-hundred day simple moving average of $81.77. The stock has a market cap of $53.37 billion, a PE ratio of 21.25, a P/E/G ratio of 4.47 and a beta of 1.67. ONEOK, Inc. has a one year low of $60.58 and a one year high of $93.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.33%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Scotiabank lifted their target price 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. Truist Financial upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley increased their target price on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.92.

ONEOK Company 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.