ONEOK, Inc. (NYSE:OKE) Position Lifted by Sage Advisors LLC

Sage Advisors LLC grew its stake in ONEOK, Inc. (NYSE:OKE) by 7.0% during the second quarter, HoldingsChannel reports. The fund owned 50,363 shares of the utilities provider’s stock after acquiring an additional 3,303 shares during the quarter. ONEOK comprises about 3.3% of Sage Advisors LLC’s holdings, making the stock its 8th largest position. Sage Advisors LLC’s holdings in ONEOK were worth $4,107,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OKE. Jones Financial Companies Lllp boosted its position in shares of ONEOK by 66.8% in the 4th quarter. Jones Financial Companies Lllp now owns 5,684 shares of the utilities provider’s stock worth $399,000 after purchasing an additional 2,276 shares in the last quarter. NEOS Investment Management LLC boosted its position in shares of ONEOK by 84.6% in the 4th quarter. NEOS Investment Management LLC now owns 8,291 shares of the utilities provider’s stock worth $582,000 after purchasing an additional 3,799 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of ONEOK by 3.3% in the 4th quarter. Belpointe Asset Management LLC now owns 13,760 shares of the utilities provider’s stock worth $966,000 after purchasing an additional 436 shares in the last quarter. First Trust Advisors LP boosted its position in shares of ONEOK by 12.0% in the 4th quarter. First Trust Advisors LP now owns 1,316,208 shares of the utilities provider’s stock worth $92,424,000 after purchasing an additional 140,822 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of ONEOK by 35.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 66,803 shares of the utilities provider’s stock worth $4,691,000 after purchasing an additional 17,519 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

ONEOK Price Performance

Shares of ONEOK stock opened at $93.40 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $96.05. The business has a 50-day moving average price of $88.63 and a 200 day moving average price of $83.32. The firm has a market cap of $54.55 billion, a PE ratio of 21.72, a P/E/G ratio of 4.46 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share 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 during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business earned $1.04 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm 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 was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.24%. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research reports. Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company lifted their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. 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 company’s stock. According to data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average target price of $92.38.

About ONEOK

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.