Creative Planning Purchases 11,126 Shares of ONEOK, Inc. (NYSE:OKE)

Creative Planning lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,564 shares of the utilities provider’s stock after purchasing an additional 11,126 shares during the quarter. Creative Planning’s holdings in ONEOK were worth $19,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. boosted its position in shares of ONEOK by 1.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,052,296 shares of the utilities provider’s stock valued at $85,815,000 after purchasing an additional 10,241 shares in the last quarter. Aviso Wealth Management raised 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 valued at $637,000 after buying an additional 134 shares during the last quarter. Dorsey Wright & Associates purchased a new position in ONEOK during the second quarter valued at $261,000. MBB Public Markets I LLC raised its stake in ONEOK by 481.4% during the second quarter. MBB Public Markets I LLC now owns 44,189 shares of the utilities provider’s stock valued at $3,604,000 after buying an additional 36,589 shares during the last quarter. Finally, Daymark Wealth Partners LLC raised its stake in ONEOK by 35.9% during the second quarter. Daymark Wealth Partners LLC now owns 5,513 shares of the utilities provider’s stock valued at $450,000 after buying an additional 1,455 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.38.

ONEOK Stock Performance

NYSE:OKE opened at $91.13 on Tuesday. The stock has a 50-day simple moving average of $88.22 and a two-hundred day simple moving average of $83.14. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $96.05. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a market capitalization of $53.19 billion, a PE ratio of 21.19, a P/E/G ratio of 4.71 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly 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 business 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 company posted $1.04 earnings per share. Analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.