Cetera Investment Advisers Purchases 9,581 Shares of ONEOK, Inc. (NYSE:OKE)

Cetera Investment Advisers increased its holdings in ONEOK, Inc. (NYSE:OKE) by 1.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 624,857 shares of the utilities provider’s stock after acquiring an additional 9,581 shares during the quarter. Cetera Investment Advisers’ holdings in ONEOK were worth $50,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. increased its holdings in shares of ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after buying an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in ONEOK by 0.9% in the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares in the last quarter. Brighton Jones LLC increased its stake in ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 122 shares during the last quarter. Capital Wealth Planning LLC raised its position in ONEOK by 4.3% during the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 131 shares in the last quarter. Finally, Aviso Wealth Management lifted its stake in ONEOK by 1.7% during the second quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock worth $637,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.3 %

Shares of NYSE:OKE opened at $92.31 on Wednesday. The stock’s 50-day moving average is $88.40 and its 200 day moving average is $83.25. The company has a market cap of $53.88 billion, a PE ratio of 21.47, a P/E/G ratio of 4.71 and a beta of 1.67. 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, Inc. has a 1 year low of $60.58 and a 1 year high of $96.05.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. Sell-side analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.29%. ONEOK’s dividend payout ratio is 92.09%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKE. Royal Bank of Canada raised their price objective on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Barclays lifted their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Mizuho lifted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. 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. Based on data from MarketBeat.com, the company has a consensus 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.