Oppenheimer & Co. Inc. Purchases 3,209 Shares of ONEOK, Inc. (NYSE:OKE)

Oppenheimer & Co. Inc. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,772 shares of the utilities provider’s stock after buying an additional 3,209 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ONEOK were worth $3,814,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rise Advisors LLC bought a new position in ONEOK in the first quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new position in ONEOK in the first quarter valued at approximately $26,000. Quest Partners LLC bought a new position in ONEOK in the second quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new position in ONEOK in the second quarter valued at approximately $31,000. Finally, American National Bank bought a new position in ONEOK in the first quarter valued at approximately $32,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OKE. Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Truist Financial lifted their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their target price on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $89.92.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $91.37 on Monday. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The business has a fifty day moving average price of $86.12 and a two-hundred day moving average price of $81.87. 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 stock has a market capitalization of $53.33 billion, a PE ratio of 21.25, a P/E/G ratio of 4.47 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the company posted $1.04 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.33%. ONEOK’s payout ratio is 92.09%.

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.