ONEOK, Inc. (NYSE:OKE) Shares Acquired by Oxbow Advisors LLC

Oxbow Advisors LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,485 shares of the utilities provider’s stock after buying an additional 623 shares during the period. Oxbow Advisors LLC’s holdings in ONEOK were worth $1,138,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Duality Advisers LP purchased a new stake in shares of ONEOK during the first quarter worth approximately $375,000. Empirical Finance LLC increased its holdings in ONEOK by 7.4% in the first quarter. Empirical Finance LLC now owns 10,799 shares of the utilities provider’s stock valued at $866,000 after buying an additional 743 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in ONEOK by 21.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock valued at $381,000 after buying an additional 844 shares in the last quarter. PFG Advisors purchased a new stake in ONEOK during the 1st quarter worth about $449,000. Finally, Capital Wealth Planning LLC acquired a new position in shares of ONEOK during the 1st quarter worth about $243,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ONEOK

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Scotiabank lifted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.92.

ONEOK Price Performance

Shares of NYSE:OKE traded up $3.02 during trading on Friday, hitting $107.16. 3,580,082 shares of the stock were exchanged, compared to its average volume of 2,621,994. ONEOK, Inc. has a 12-month low of $63.77 and a 12-month high of $107.19. The company has a market cap of $62.60 billion, a PE ratio of 22.42, a P/E/G ratio of 5.10 and a beta of 1.66. The company has a fifty day moving average price of $94.86 and a two-hundred day moving average price of $86.63. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the company posted $0.99 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

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.