Marshall Wace LLP Buys New Shares in ONEOK, Inc. (NYSE:OKE)

Marshall Wace LLP bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 196,767 shares of the utilities provider’s stock, valued at approximately $16,046,000.

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

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Royal Bank of Canada upped their target price on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Barclays lifted their price target on 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 increased their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $92.38.

ONEOK Price Performance

OKE stock opened at $90.22 on Friday. The firm has a 50 day moving average of $87.95 and a 200-day moving average of $82.87. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $52.69 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $96.05.

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, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

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.