ONEOK, Inc. (NYSE:OKE) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,866 shares of the utilities provider’s stock after buying an additional 4,380 shares during the quarter. State of Alaska Department of Revenue’s holdings in ONEOK were worth $6,184,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OKE. Diversified Trust Co lifted its holdings in ONEOK by 8.7% during the 1st quarter. Diversified Trust Co now owns 4,019 shares of the utilities provider’s stock worth $322,000 after buying an additional 323 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ONEOK by 464.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock valued at $15,875,000 after purchasing an additional 162,963 shares in the last quarter. Tradewinds Capital Management LLC raised its holdings in shares of ONEOK by 268.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 8,330 shares of the utilities provider’s stock valued at $668,000 after purchasing an additional 6,068 shares in the last quarter. Norden Group LLC raised its holdings in shares of ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after purchasing an additional 131,441 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of ONEOK by 1.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 16,334 shares of the utilities provider’s stock valued at $1,310,000 after purchasing an additional 204 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OKE shares. Scotiabank raised their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Truist Financial raised their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Trading Down 0.7 %

Shares of ONEOK stock opened at $96.02 on Tuesday. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43. 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 company has a market capitalization of $56.08 billion, a P/E ratio of 20.92, a PEG ratio of 4.17 and a beta of 1.67. The company’s fifty day moving average is $93.01 and its two-hundred day moving average is $85.44.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the firm posted $1.04 EPS. Analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.12%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is currently 86.27%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

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.