Retirement Investment Advisors Inc. Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

Retirement Investment Advisors Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,475 shares of the utilities provider’s stock, valued at approximately $1,262,000. ONEOK accounts for about 0.2% of Retirement Investment Advisors Inc.’s portfolio, making the stock its 24th largest holding.

Several other hedge funds have also modified their holdings of OKE. QRG Capital Management Inc. increased its holdings in ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 122 shares in the last quarter. Brighton Jones LLC raised its position in shares of ONEOK by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 122 shares during the last quarter. Capital Wealth Planning LLC boosted its holdings in ONEOK by 4.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock worth $258,000 after buying an additional 131 shares during the last quarter. Finally, Sheets Smith Wealth Management increased its stake in ONEOK by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock worth $4,185,000 after buying an additional 139 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’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 transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Down 0.1 %

Shares of NYSE OKE opened at $93.77 on Friday. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $95.28. The business’s 50 day moving average is $87.05 and its two-hundred day moving average is $82.30. The firm has a market cap of $54.73 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 4.49 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

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, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the company earned $1.04 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.22%. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Barclays boosted their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a report on Monday. JPMorgan Chase & Co. boosted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned 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 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.