ONEOK, Inc. (NYSE:OKE) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 26.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,660 shares of the utilities provider’s stock after acquiring an additional 1,592 shares during the period. Foundations Investment Advisors LLC’s holdings in ONEOK were worth $698,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OKE. M&G Plc acquired a new stake in shares of ONEOK in the first quarter worth $77,634,000. Kayne Anderson Capital Advisors LP increased its position in shares of ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares in the last quarter. Bahl & Gaynor Inc. increased its position in shares of ONEOK by 3,648.4% in the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares in the last quarter. Cetera Investment Advisers increased its position in shares of ONEOK by 370.1% in the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after acquiring an additional 484,403 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in shares of ONEOK by 3,137.6% in the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 392,644 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.7 %

ONEOK stock opened at $97.45 on Friday. The firm’s 50-day moving average is $92.46 and its 200-day moving average is $85.04. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43. The company has a market cap of $56.92 billion, a P/E ratio of 21.23, a PEG ratio of 4.31 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the firm posted $1.04 EPS. On average, equities analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.06%. ONEOK’s payout ratio is currently 86.27%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the 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 legal filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America assumed 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. Barclays upped their target price on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Truist Financial upped their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Scotiabank upped 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. Finally, Citigroup upped their target price 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Company 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.