Ritholtz Wealth Management Purchases Shares of 2,257 ONEOK, Inc. (NYSE:OKE)

Ritholtz Wealth Management acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,257 shares of the utilities provider’s stock, valued at approximately $206,000.

Other institutional investors have also made changes to their positions in the company. Rise Advisors LLC bought a new position in ONEOK during the first quarter worth about $25,000. Quest Partners LLC acquired a new stake in ONEOK in the 2nd quarter valued at $28,000. Matrix Trust Co bought a new stake in ONEOK in the third quarter valued at $29,000. Ridgewood Investments LLC acquired a new position in ONEOK during the second quarter worth $31,000. Finally, American National Bank bought a new position in shares of ONEOK during the first quarter valued at $32,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Up 0.8 %

Shares of NYSE:OKE opened at $96.44 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The stock has a market cap of $56.29 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 4.68 and a beta of 1.67. The company has a 50 day moving average of $91.54 and a 200-day moving average of $84.53. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.01.

ONEOK (NYSE:OKE) last released 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. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. 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. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.11%. ONEOK’s payout ratio is currently 92.09%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Truist Financial upped their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Scotiabank raised their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Barclays boosted their price objective on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.77.

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.