ONEOK, Inc. (NYSE:OKE) Stake Boosted by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,272 shares of the utilities provider’s stock after purchasing an additional 6,919 shares during the period. ProShare Advisors LLC’s holdings in ONEOK were worth $14,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in ONEOK during the first quarter worth about $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK in the 1st quarter worth approximately $26,000. Quest Partners LLC acquired a new position in ONEOK during the 2nd quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the 2nd quarter worth $31,000. Finally, American National Bank acquired a new stake in ONEOK in the first quarter worth $32,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Truist Financial lifted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.38.

ONEOK Stock Up 1.4 %

NYSE OKE opened at $95.28 on Tuesday. The company has a market capitalization of $55.65 billion, a P/E ratio of 22.16, a PEG ratio of 4.64 and a beta of 1.67. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $95.38. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company’s 50 day simple moving average is $87.45 and its 200 day simple moving average is $82.62.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

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.