Prospera Private Wealth LLC Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Prospera Private Wealth LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 161.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,488 shares of the utilities provider’s stock after acquiring an additional 5,862 shares during the period. Prospera Private Wealth LLC’s holdings in ONEOK were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC increased its stake in shares of ONEOK by 50.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,271 shares of the utilities provider’s stock worth $2,828,000 after purchasing an additional 11,903 shares in the last quarter. Pitcairn Co. raised its holdings in shares of ONEOK by 21.6% in the first quarter. Pitcairn Co. now owns 6,752 shares of the utilities provider’s stock worth $541,000 after acquiring an additional 1,199 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of ONEOK in the first quarter worth $178,000. CreativeOne Wealth LLC boosted its stake in shares of ONEOK by 44.8% during the first quarter. CreativeOne Wealth LLC now owns 22,242 shares of the utilities provider’s stock valued at $1,783,000 after acquiring an additional 6,881 shares during the last quarter. Finally, Freestone Capital Holdings LLC purchased a new stake in ONEOK during the 1st quarter worth about $927,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.5 %

NYSE:OKE opened at $113.10 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $113.23. The business has a 50 day simple moving average of $97.38 and a 200 day simple moving average of $88.22. The firm has a market capitalization of $66.07 billion, a P/E ratio of 23.66, a P/E/G ratio of 5.48 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate 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 firm posted $0.99 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.50%. ONEOK’s payout ratio is 82.85%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKE. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Citigroup boosted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Transactions at ONEOK

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 sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.