Country Club Bank Takes $223,000 Position in ONEOK, Inc. (NYSE:OKE)

Country Club Bank acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, HoldingsChannel reports. The fund acquired 2,471 shares of the utilities provider’s stock, valued at approximately $223,000.

A number of other large investors have also recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC lifted its holdings in ONEOK by 14.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,571 shares of the utilities provider’s stock worth $928,000 after purchasing an additional 1,500 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in ONEOK by 0.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 197,720 shares of the utilities provider’s stock worth $15,851,000 after purchasing an additional 1,669 shares in the last quarter. SteelPeak Wealth LLC lifted its holdings in ONEOK by 140.5% in the 1st quarter. SteelPeak Wealth LLC now owns 10,783 shares of the utilities provider’s stock worth $864,000 after purchasing an additional 6,299 shares in the last quarter. Chapin Davis Inc. purchased a new position in ONEOK in the 1st quarter worth approximately $253,000. Finally, Diversified Trust Co lifted its holdings in ONEOK by 8.7% in the 1st quarter. Diversified Trust Co now owns 4,019 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 323 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OKE shares. Wells Fargo & Company boosted their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Mizuho lifted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Truist Financial lifted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Barclays lifted 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. Finally, Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Price Performance

OKE opened at $96.66 on Friday. The business has a fifty day moving average of $92.85 and a 200 day moving average of $85.28. 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 cap of $56.42 billion, a P/E ratio of 22.48, a PEG ratio of 4.31 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the business earned $1.04 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is currently 92.09%.

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.