Ranch Capital Advisors Inc. Buys 135 Shares of ONEOK, Inc. (NYSE:OKE)

Ranch Capital Advisors Inc. boosted its position in ONEOK, Inc. (NYSE:OKE) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,489 shares of the utilities provider’s stock after buying an additional 135 shares during the period. Ranch Capital Advisors Inc.’s holdings in ONEOK were worth $1,263,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of ONEOK during the first quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new position in ONEOK during the 1st quarter valued at about $26,000. Quest Partners LLC purchased a new stake in shares of ONEOK in the second quarter worth approximately $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter valued at approximately $31,000. Finally, American National Bank purchased a new position in shares of ONEOK during the first quarter valued at approximately $32,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Wells Fargo & Company increased their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Citigroup lifted their target price 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. Finally, Truist Financial boosted their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $92.38.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s 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 can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Down 0.1 %

OKE opened at $93.77 on Friday. The business’s 50-day moving average price is $87.05 and its 200-day moving average price is $82.30. 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, Inc. has a 12 month low of $60.58 and a 12 month high of $95.28. The company has a market cap of $54.73 billion, a P/E ratio of 21.81, a P/E/G ratio of 4.49 and a beta of 1.67.

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. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.22%. 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.