Parallel Advisors LLC Has $838,000 Position in ONEOK, Inc. (NYSE:OKE)

Parallel Advisors LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 13.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,281 shares of the utilities provider’s stock after buying an additional 1,239 shares during the quarter. Parallel Advisors LLC’s holdings in ONEOK were worth $838,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of OKE. Tortoise Capital Advisors L.L.C. raised its holdings in shares of 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 valued at $554,158,000 after purchasing an additional 232,043 shares during the last quarter. Northern Trust Corp boosted its holdings in ONEOK by 1.5% during the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after purchasing an additional 85,736 shares during the last quarter. Norges Bank bought a new position in ONEOK in the fourth quarter valued at $297,948,000. Kayne Anderson Capital Advisors LP increased its stake in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OKE. Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Truist Financial boosted their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Barclays boosted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Citigroup increased their price target 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average target price of $92.38.

ONEOK Price Performance

ONEOK stock opened at $93.68 on Tuesday. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 4.49 and a beta of 1.67. The stock’s 50 day moving average is $86.36 and its 200-day moving average is $82.00. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $93.88.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter last year, the business earned $1.04 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.23%. ONEOK’s payout ratio is presently 92.09%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK 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.