Icon Wealth Advisors LLC Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Icon Wealth Advisors LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,234 shares of the utilities provider’s stock after purchasing an additional 4,395 shares during the quarter. Icon Wealth Advisors LLC’s holdings in ONEOK were worth $6,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service lifted its stake in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after acquiring an additional 12,349 shares during the period. Leavell Investment Management Inc. raised its holdings in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Caxton Associates LP acquired a new position in ONEOK during the second quarter valued at $1,225,000. Point72 Europe London LLP purchased a new stake in ONEOK in the second quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after buying an additional 5,451 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the 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. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent research reports. Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Truist Financial raised their target price on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Price Performance

Shares of NYSE OKE opened at $112.59 on Friday. The firm has a 50-day simple moving average of $100.35 and a 200-day simple moving average of $89.78. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 5.69 and a beta of 1.66. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last released its 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 during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the business earned $0.99 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

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.