Allspring Global Investments Holdings LLC Buys 257 Shares of ONEOK, Inc. (NYSE:OKE)

Allspring Global Investments Holdings LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 293,874 shares of the utilities provider’s stock after acquiring an additional 257 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of ONEOK worth $26,781,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Caxton Associates LP acquired a new stake in ONEOK during the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP bought a new position in ONEOK during the 2nd quarter worth $15,008,000. Norden Group LLC lifted its holdings in shares of ONEOK by 4,460.2% during the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after buying an additional 131,441 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of ONEOK by 61.0% in the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock valued at $11,836,000 after acquiring an additional 54,978 shares during the period. Finally, Catalyst Financial Partners LLC acquired a new position in shares of ONEOK in the second quarter valued at about $328,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE:OKE opened at $96.77 on Thursday. The firm has a 50 day simple moving average of $92.46 and a 200 day simple moving average of $85.04. The company has a market cap of $56.52 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 4.20 and a beta of 1.67. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

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

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is currently 86.27%.

Insider Activity

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 document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

OKE has been the subject of a number of recent research reports. 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 report on Friday, August 30th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Truist Financial lifted their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average 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.