ONEOK, Inc. (NYSE:OKE) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 90.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,822 shares of the utilities provider’s stock after purchasing an additional 14,647 shares during the quarter. Kingsview Wealth Management LLC’s holdings in ONEOK were worth $2,809,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in shares of ONEOK by 21.5% in the third quarter. Cerity Partners LLC now owns 154,250 shares of the utilities provider’s stock valued at $14,057,000 after acquiring an additional 27,305 shares in the last quarter. Nwam LLC acquired a new stake in ONEOK in the third quarter valued at about $224,000. Meridian Wealth Management LLC purchased a new stake in ONEOK in the 3rd quarter valued at approximately $721,000. Allen Capital Group LLC increased its position in ONEOK by 0.7% during the 3rd quarter. Allen Capital Group LLC now owns 28,488 shares of the utilities provider’s stock worth $2,596,000 after purchasing an additional 211 shares during the period. Finally, Raymond James Trust N.A. raised its stake in shares of ONEOK by 0.6% during the 3rd quarter. Raymond James Trust N.A. now owns 25,234 shares of the utilities provider’s stock worth $2,300,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on 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 can be accessed through this link. 0.20% of the stock is currently owned by insiders.

ONEOK Stock Up 0.3 %

OKE opened at $117.05 on Monday. The stock has a market capitalization of $68.38 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 5.84 and a beta of 1.66. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07. 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 business has a 50-day moving average of $98.87 and a two-hundred day moving average of $89.00.

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

ONEOK Dividend Announcement

The company also recently declared 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 of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.38%. ONEOK’s dividend payout ratio is presently 82.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OKE shares. Truist Financial raised their target price on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Barclays raised their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average target price of $100.38.

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.