ONEOK, Inc. (NYSE:OKE) Stock Holdings Boosted by Sage Advisors LLC

Sage Advisors LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,017 shares of the utilities provider’s stock after acquiring an additional 6,654 shares during the period. ONEOK comprises approximately 4.1% of Sage Advisors LLC’s portfolio, making the stock its 7th biggest holding. Sage Advisors LLC’s holdings in ONEOK were worth $5,196,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. increased its position in shares of 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 buying an additional 232,043 shares during the period. Energy Income Partners LLC boosted its stake 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 buying an additional 319,487 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares in the last quarter. International Assets Investment Management LLC boosted its position in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Finally, abrdn plc grew its position in ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Citigroup lifted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Truist Financial boosted their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Stock Up 1.8 %

Shares of NYSE OKE opened at $109.81 on Friday. The firm has a 50-day simple moving average of $96.54 and a two-hundred day simple moving average of $87.64. ONEOK, Inc. has a 1 year low of $64.68 and a 1 year high of $110.05. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $64.15 billion, a P/E ratio of 22.97, a PEG ratio of 5.48 and a beta of 1.66.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during 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 in the previous year, the company posted $0.99 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.61%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

ONEOK 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.