5,020 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Concorde Asset Management LLC

Concorde Asset Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,020 shares of the utilities provider’s stock, valued at approximately $409,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in ONEOK in the first quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new stake in ONEOK during the first quarter worth $26,000. Quest Partners LLC acquired a new stake in ONEOK in the second quarter valued at $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK during the 2nd quarter worth $31,000. Finally, American National Bank acquired a new stake in ONEOK in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on 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 can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $93.90 on Thursday. The firm has a market capitalization of $54.84 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a one year low of $60.58 and a one year high of $95.26. The stock’s 50 day moving average price is $86.83 and its 200 day moving average price is $82.22. 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 (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the business earned $1.04 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.22%. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OKE. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays boosted their price target on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Mizuho boosted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.38.

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.