Massmutual Trust Co. FSB ADV Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Massmutual Trust Co. FSB ADV raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 11.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,830 shares of the utilities provider’s stock after buying an additional 399 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in ONEOK were worth $349,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Rise Advisors LLC purchased a new position in shares of ONEOK in the 1st quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK in the 1st quarter valued at about $26,000. Quest Partners LLC purchased a new position in shares of ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK in the 2nd quarter valued at about $31,000. Finally, American National Bank purchased a new position in shares of ONEOK in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on OKE. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Mizuho lifted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Barclays lifted their price objective on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Citigroup lifted 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. Finally, Truist Financial lifted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $92.38.

ONEOK Stock Up 0.5 %

OKE stock opened at $95.23 on Friday. The firm has a market cap of $55.58 billion, a PE ratio of 22.15, a PEG ratio of 4.46 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm’s 50 day moving average price is $89.16 and its 200-day moving average price is $83.52. ONEOK, Inc. has a one year low of $60.79 and a one year high of $96.05.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate 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 net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the company earned $1.04 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared 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. This represents a $3.96 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is presently 92.09%.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on 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 document filed with the SEC, which is available at this hyperlink. 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.