Callahan Advisors LLC Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Callahan Advisors LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,818 shares of the utilities provider’s stock after acquiring an additional 301 shares during the period. Callahan Advisors LLC’s holdings in ONEOK were worth $986,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new position in ONEOK in the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP purchased a new position in ONEOK in the 2nd quarter worth approximately $15,008,000. Sageworth Trust Co purchased a new position in ONEOK in the 3rd quarter worth approximately $568,000. NewEdge Advisors LLC raised its holdings in ONEOK by 61.0% in the 2nd quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock worth $11,836,000 after acquiring an additional 54,978 shares during the last quarter. Finally, Catalyst Financial Partners LLC bought a new stake in ONEOK in the 2nd quarter worth approximately $328,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial lifted their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. 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 report on Friday, August 30th. Finally, Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the stock 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.92.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $98.61 on Wednesday. The firm has a market cap of $57.61 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.66. The firm’s 50 day simple moving average is $94.01 and its 200-day simple moving average is $86.20. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.65. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business earned $0.99 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.16 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.02%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently 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.