Impact Partnership Wealth LLC Takes $326,000 Position in ONEOK, Inc. (NYSE:OKE)

Impact Partnership Wealth LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 3,580 shares of the utilities provider’s stock, valued at approximately $326,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caxton Associates LP purchased a new position in ONEOK in the 2nd quarter worth $1,225,000. Point72 Europe London LLP purchased a new position in ONEOK in the 2nd quarter worth $15,008,000. Norden Group LLC raised its stake in ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after acquiring an additional 131,441 shares during the last quarter. NewEdge Advisors LLC raised its stake in ONEOK by 61.0% in the 2nd quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock worth $11,836,000 after acquiring an additional 54,978 shares during the last quarter. Finally, Catalyst Financial Partners LLC purchased a new position in ONEOK in the 2nd quarter worth $328,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OKE shares. Truist Financial raised their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $94.77.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Price Performance

NYSE:OKE opened at $97.45 on Friday. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43. 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 stock has a market capitalization of $56.92 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. The stock’s 50-day moving average price is $92.46 and its 200-day moving average price is $85.04.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the company posted $1.04 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is presently 86.27%.

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.