ONEOK, Inc. (NYSE:OKE) Shares Bought by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,795,313 shares of the utilities provider’s stock after acquiring an additional 232,043 shares during the quarter. ONEOK comprises 7.3% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 5th largest holding. Tortoise Capital Advisors L.L.C.’s holdings in ONEOK were worth $554,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp increased its stake in ONEOK by 1.5% during the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after acquiring an additional 85,736 shares during the last quarter. Norges Bank acquired a new stake in ONEOK during the fourth quarter worth $297,948,000. Kayne Anderson Capital Advisors LP grew its stake in shares of ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after buying an additional 825,464 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after buying an additional 378,509 shares during the period. Finally, Energy Income Partners LLC raised its holdings in shares of ONEOK by 10.3% in the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after buying an additional 319,487 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on OKE. Truist Financial boosted their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Royal Bank of Canada boosted their price objective on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.92.

ONEOK Stock Down 0.8 %

ONEOK stock opened at $91.06 on Friday. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $93.00. The stock has a 50 day moving average of $85.25 and a two-hundred day moving average of $81.13. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $53.15 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 3.66 and a beta of 1.67.

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. As a group, research analysts expect that ONEOK, Inc. will post 5.05 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) 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.