B. Riley Wealth Advisors Inc. Has $5.46 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

B. Riley Wealth Advisors Inc. decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,945 shares of the utilities provider’s stock after selling 9,992 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in ONEOK were worth $5,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Caxton Associates LP bought a new position in ONEOK in the second quarter valued at about $1,225,000. Point72 Europe London LLP bought a new stake in shares of ONEOK during the 2nd quarter valued at approximately $15,008,000. TD Asset Management Inc increased its position in ONEOK by 11.6% during the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after purchasing an additional 21,657 shares in the last quarter. Norden Group LLC lifted its stake in ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after purchasing an additional 131,441 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after buying an additional 1,128,066 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKE. Royal Bank of Canada upped their price target on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Citigroup upped their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Truist Financial lifted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.38.

ONEOK Stock Performance

Shares of ONEOK stock opened at $91.13 on Tuesday. The company has a market cap of $53.19 billion, a P/E ratio of 21.19, a PEG ratio of 4.71 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $88.22 and a two-hundred day moving average price of $83.14. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $96.05.

ONEOK (NYSE:OKE) last issued its earnings results 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 business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the company posted $1.04 earnings per share. As a group, analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.35%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

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.