Segment Wealth Management LLC Has $1.02 Million Position in ONEOK, Inc. (NYSE:OKE)

Segment Wealth Management LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,151 shares of the utilities provider’s stock after purchasing an additional 169 shares during the period. Segment Wealth Management LLC’s holdings in ONEOK were worth $1,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Tortoise Capital Advisors L.L.C. raised its position in ONEOK by 3.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC lifted its stake 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 purchasing an additional 378,509 shares during the last quarter. Energy Income Partners LLC boosted its holdings in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after purchasing an additional 319,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after buying an additional 132,326 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Mizuho upped their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Truist Financial raised their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Stock Up 0.6 %

Shares of OKE opened at $97.39 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $92.25 and a two-hundred day moving average price of $84.96. The stock has a market cap of $56.88 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 4.20 and a beta of 1.67. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43.

ONEOK (NYSE:OKE) last announced its quarterly earnings results 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. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations 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 earnings per share. Equities analysts predict that ONEOK, Inc. will post 5.06 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 86.27%.

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.