ONEOK, Inc. (NYSE:OKE) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 22.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,003 shares of the utilities provider’s stock after purchasing an additional 1,303 shares during the period. Summit Trail Advisors LLC’s holdings in ONEOK were worth $571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth about $25,000. LifeSteps Financial Inc. acquired a new position in ONEOK in the first quarter valued at approximately $26,000. Quest Partners LLC acquired a new position in ONEOK in the second quarter valued at approximately $28,000. Ridgewood Investments LLC purchased a new position in ONEOK in the second quarter valued at approximately $31,000. Finally, American National Bank acquired a new stake in ONEOK during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Barclays raised their price target on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average price target of $92.38.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated 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 available through the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.97 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $87.24 and a 200 day moving average price of $82.49. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $95.28. The company has a market cap of $54.89 billion, a P/E ratio of 21.85, a PEG ratio of 4.64 and a beta of 1.67.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.