Csenge Advisory Group purchased a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,714 shares of the utilities provider’s stock, valued at approximately $584,000.
Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. Empowered Funds LLC lifted its holdings in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares during the last quarter. Acadian Asset Management LLC acquired a new position in ONEOK during the first quarter valued at approximately $216,000. Federated Hermes Inc. raised its position in shares of ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of ONEOK by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after buying an additional 4,902 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.
ONEOK Stock Performance
Shares of NYSE:OKE opened at $94.69 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $97.90. The business has a fifty day moving average of $90.03 and a 200-day moving average of $88.16. The firm has a market cap of $59.69 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.
ONEOK Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK’s dividend payout ratio (DPR) is currently 73.79%.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on OKE shares. Raymond James Financial restated an “outperform” rating and issued a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. TD Cowen boosted their price objective on ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Wells Fargo & Company decreased their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, Truist Financial increased their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.94.
Read Our Latest Research Report on OKE
ONEOK Profile
ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.
ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.
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