ONEOK, Inc. (NYSE:OKE) Shares Acquired by Principal Street Partners LLC

Principal Street Partners LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 41.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,323 shares of the utilities provider’s stock after purchasing an additional 1,848 shares during the quarter. Principal Street Partners LLC’s holdings in ONEOK were worth $525,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. HM Payson & Co. lifted its holdings in ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 105 shares during the last quarter. Claro Advisors LLC increased its position in shares of ONEOK by 1.6% during the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 115 shares during the last quarter. Haverford Trust Co raised its holdings in ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after buying an additional 117 shares during the period. QRG Capital Management Inc. lifted its position in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after buying an additional 119 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was 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 SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Finally, Truist Financial increased their price target 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. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Up 1.7 %

NYSE:OKE traded up $1.91 during midday trading on Tuesday, hitting $113.43. 263,538 shares of the company were exchanged, compared to its average volume of 2,799,041. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The company has a market capitalization of $66.26 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 5.84 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a fifty day simple moving average of $99.23 and a 200 day simple moving average of $89.22.

ONEOK (NYSE:OKE) last posted its 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). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the firm posted $0.99 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.49%. ONEOK’s dividend payout ratio (DPR) is presently 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.