Livforsakringsbolaget Skandia Omsesidigt Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 219.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,315 shares of the utilities provider’s stock after buying an additional 2,965 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in ONEOK were worth $393,000 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. Rise Advisors LLC purchased a new position in shares of ONEOK in the first quarter worth about $25,000. Quest Partners LLC purchased a new position in ONEOK in the 2nd quarter valued at approximately $28,000. Matrix Trust Co bought a new stake in ONEOK during the 3rd quarter valued at $29,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK during the second quarter worth $31,000. Finally, American National Bank bought a new position in shares of ONEOK in the first quarter worth $32,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent research reports. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Citigroup raised 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. Truist Financial upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $92.38.

ONEOK Trading Up 2.0 %

OKE stock opened at $96.61 on Monday. The company has a market capitalization of $56.43 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. 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, Inc. has a one year low of $63.33 and a one year high of $96.64. The company’s 50 day moving average price is $90.44 and its two-hundred day moving average price is $84.14.

ONEOK (NYSE:OKE) last issued its 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 company 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 last year, the company earned $1.04 EPS. As a group, 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 issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 86.27%.

Insider Buying and Selling

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 value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.