ONEOK, Inc. (NYSE:OKE) Shares Purchased by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,479 shares of the utilities provider’s stock after acquiring an additional 1,000 shares during the period. Chesley Taft & Associates LLC’s holdings in ONEOK were worth $5,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in shares of ONEOK during the first quarter worth about $25,000. Quest Partners LLC acquired a new stake in ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $31,000. American National Bank purchased a new stake in ONEOK in the 1st quarter valued at approximately $32,000. Finally, Manchester Capital Management LLC boosted its stake in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $94.84 on Tuesday. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $96.05. 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 stock has a fifty day moving average of $89.16 and a 200 day moving average of $83.59. The firm has a market capitalization of $55.35 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 4.62 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly 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. The firm had revenue of $4.89 billion for 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 last year, the business posted $1.04 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.09 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 given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is currently 92.09%.

Analysts Set New Price Targets

OKE has been the subject of several research analyst reports. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their target price on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Morgan Stanley raised 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. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, Truist Financial boosted their price objective on ONEOK from $81.00 to $83.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $92.38.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

ONEOK 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.