Del Sette Capital Management LLC Has $2.33 Million Stake in ONEOK, Inc. (NYSE:OKE)

Del Sette Capital Management LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,611 shares of the utilities provider’s stock after buying an additional 210 shares during the quarter. ONEOK comprises 1.8% of Del Sette Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Del Sette Capital Management LLC’s holdings in ONEOK were worth $2,334,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Quest Partners LLC purchased a new position in ONEOK during the second quarter worth about $28,000. Matrix Trust Co bought a new position in shares of ONEOK during the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK in the 2nd quarter worth approximately $31,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK during the third quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC increased its position in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKE. Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Truist Financial raised 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. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.92.

ONEOK Trading Up 2.9 %

NYSE:OKE opened at $107.16 on Friday. ONEOK, Inc. has a 1 year low of $63.77 and a 1 year high of $107.19. The stock’s fifty day moving average price is $94.86 and its two-hundred day moving average price is $86.63. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $62.60 billion, a P/E ratio of 22.42, a P/E/G ratio of 5.10 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the firm posted $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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.70%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Insider Activity at ONEOK

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

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.