Ferguson Wellman Capital Management Inc. Has $853,000 Holdings in ONEOK, Inc. (NYSE:OKE)

Ferguson Wellman Capital Management Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,356 shares of the utilities provider’s stock after acquiring an additional 279 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in ONEOK were worth $853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Matrix Trust Co acquired a new position in shares of ONEOK in the 3rd quarter worth approximately $29,000. Quest Partners LLC acquired a new position in ONEOK during the 2nd quarter worth $28,000. Ridgewood Investments LLC acquired a new position in ONEOK during the 2nd quarter worth $31,000. Access Investment Management LLC acquired a new position in ONEOK during the 3rd quarter worth $37,000. Finally, Values First Advisors Inc. acquired a new position in ONEOK during the 3rd quarter worth $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Price Performance

OKE opened at $107.88 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $64.68 and a 12 month high of $109.21. The company has a fifty day simple moving average of $95.84 and a 200 day simple moving average of $87.24. The stock has a market cap of $63.02 billion, a P/E ratio of 22.57, a P/E/G ratio of 5.40 and a beta of 1.66.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. Barclays upped 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. Truist Financial upped their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Scotiabank upped their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

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.