2,265 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,265 shares of the utilities provider’s stock, valued at approximately $206,000.

Other large investors also recently bought and sold shares of the company. Royal Capital Wealth Management LLC acquired a new stake in shares of ONEOK in the third quarter worth approximately $209,000. Paradigm Capital Management LLC NV acquired a new stake in ONEOK during the 3rd quarter worth $275,000. FSA Wealth Management LLC purchased a new stake in shares of ONEOK during the third quarter worth $57,000. Erste Asset Management GmbH acquired a new stake in shares of ONEOK in the third quarter valued at about $9,333,000. Finally, Tradition Wealth Management LLC lifted its stake in shares of ONEOK by 3.4% in the third quarter. Tradition Wealth Management LLC now owns 6,718 shares of the utilities provider’s stock worth $612,000 after buying an additional 221 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent research reports. Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. 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 report on Wednesday, October 16th. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $100.38.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $110.43 on Tuesday. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s 50 day moving average price is $100.75 and its 200-day moving average price is $90.13. The firm has a market cap of $64.51 billion, a P/E ratio of 23.10, a P/E/G ratio of 5.75 and a beta of 1.69.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the company earned $0.99 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 5.08 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced 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 3.59%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

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.