ONEOK, Inc. (NYSE:OKE) Shares Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. grew its stake in ONEOK, Inc. (NYSE:OKE) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,965 shares of the utilities provider’s stock after acquiring an additional 313 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in ONEOK were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Quest Partners LLC acquired a new position in shares of ONEOK in the second quarter valued at approximately $28,000. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter worth $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth $31,000. Manchester Capital Management LLC grew its position in shares of ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares during the period. Finally, Beacon Capital Management LLC increased its stake in ONEOK by 56.9% in the first quarter. Beacon Capital Management LLC now owns 640 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 232 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial increased their price target on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. increased their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

Insider Activity

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

ONEOK Price Performance

Shares of OKE stock opened at $96.77 on Thursday. The firm has a fifty day simple moving average of $92.46 and a 200-day simple moving average of $85.04. The company has a market capitalization of $56.52 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 4.20 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.43. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company posted $1.04 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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 $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is 86.27%.

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.