Citizens Financial Group Inc. RI Acquires 2,307 Shares of ONEOK, Inc. (NYSE:OKE)

Citizens Financial Group Inc. RI grew its holdings in ONEOK, Inc. (NYSE:OKE) by 25.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,409 shares of the utilities provider’s stock after purchasing an additional 2,307 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in ONEOK were worth $1,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. raised its stake in ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after buying an additional 232,043 shares in the last quarter. Energy Income Partners LLC raised its position in shares of ONEOK by 10.3% in the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after acquiring an additional 319,487 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after acquiring an additional 132,326 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of ONEOK by 9,439.9% during the 3rd 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 last quarter. Finally, abrdn plc boosted its position in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several analyst reports. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $117.04 on Friday. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07. The business’s 50 day moving average price is $98.87 and its 200 day moving average price is $88.86. 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 firm has a market cap of $68.37 billion, a P/E ratio of 24.49, a P/E/G ratio of 5.64 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business 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. On average, sell-side analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.38%. ONEOK’s payout ratio is currently 82.85%.

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.