SG Americas Securities LLC Raises Stake in ONEOK, Inc. (NYSE:OKE)

SG Americas Securities LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 4.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 231,775 shares of the utilities provider’s stock after buying an additional 9,860 shares during the quarter. SG Americas Securities LLC’s holdings in ONEOK were worth $21,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Rise Advisors LLC purchased a new stake in ONEOK during the first quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new stake in ONEOK during the first quarter valued at about $26,000. Quest Partners LLC purchased a new stake in ONEOK during the second quarter valued at about $28,000. Ridgewood Investments LLC purchased a new stake in ONEOK during the second quarter valued at about $31,000. Finally, American National Bank purchased a new stake in ONEOK during the first quarter valued at about $32,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. 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 report on Wednesday, June 26th. Barclays upped their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Truist Financial upped their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.38.

ONEOK Trading Up 0.5 %

Shares of NYSE:OKE traded up $0.52 during trading on Friday, reaching $95.23. 1,861,481 shares of the company traded hands, compared to its average volume of 2,774,296. The firm has a market capitalization of $55.58 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 4.46 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $60.79 and a 52-week high of $96.05. 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’s fifty day moving average is $89.16 and its 200-day moving average is $83.52.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during 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 firm posted $1.04 earnings per share. As a group, analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

About ONEOK

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.