ONEOK, Inc. (NYSE:OKE) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 16.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,953 shares of the utilities provider’s stock after purchasing an additional 4,561 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ONEOK were worth $2,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Rise Advisors LLC acquired a new position in ONEOK during the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in shares of ONEOK during the 1st quarter worth about $26,000. Quest Partners LLC acquired a new position in shares of ONEOK during the 2nd quarter worth about $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK during the 2nd quarter worth about $31,000. Finally, American National Bank acquired a new position in shares of ONEOK during the 1st quarter worth about $32,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial upped 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. Wells Fargo & Company boosted their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus target price of $92.38.

ONEOK Stock Performance

Shares of OKE stock opened at $94.66 on Wednesday. The company has a market cap of $55.29 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. The stock has a 50 day simple moving average of $86.60 and a 200-day simple moving average of $82.14. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $94.95. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its 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 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 prior year, the business posted $1.04 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

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.