ONEOK, Inc. (NYSE:OKE) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 16.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 31,953 shares of the utilities provider’s stock after buying an additional 4,561 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ONEOK were worth $2,606,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of ONEOK during the first quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK during the first quarter worth $26,000. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter worth $28,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the second quarter worth $31,000. Finally, American National Bank acquired a new stake in shares of ONEOK during the first quarter worth $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 1.0 %

Shares of ONEOK stock opened at $94.66 on Wednesday. The company has a market capitalization of $55.29 billion, a PE ratio of 22.01, a P/E/G ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $94.95. The business has a 50-day moving average of $86.60 and a 200-day moving average of $82.14. 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 posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period last year, the firm earned $1.04 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.18%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OKE. Scotiabank increased their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Mizuho increased their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. 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. Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company raised their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.38.

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.