Citizens Financial Group Inc. RI Buys 3,916 Shares of ONEOK, Inc. (NYSE:OKE)

Citizens Financial Group Inc. RI increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 75.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,102 shares of the utilities provider’s stock after purchasing an additional 3,916 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in ONEOK were worth $742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. increased its position in ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after purchasing an additional 122 shares during the last quarter. Capital Wealth Planning LLC raised its position in ONEOK by 4.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 131 shares during the period. Sheets Smith Wealth Management lifted its stake in ONEOK by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock worth $4,185,000 after purchasing an additional 139 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its position in shares of ONEOK by 0.3% during the second quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other ONEOK 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 value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $94.66 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $55.29 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. The firm has a 50 day moving average of $86.60 and a 200 day moving average of $82.14. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $94.95.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.52 billion. During the same period in the prior year, the business posted $1.04 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OKE. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a research note on Monday. Truist Financial boosted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Mizuho lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently 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.