Magnus Financial Group LLC Invests $216,000 in ONEOK, Inc. (NYSE:OKE)

Magnus Financial Group LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,370 shares of the utilities provider’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently made changes to their positions in OKE. Wellington Management Group LLP boosted its position in shares of ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. M&G Plc acquired a new stake in shares of ONEOK in the 1st quarter worth $77,634,000. Kayne Anderson Capital Advisors LP boosted its position in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after acquiring an additional 484,403 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock opened at $95.65 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.01. The business has a 50-day moving average price of $91.32 and a 200 day moving average price of $84.44. The firm has a market cap of $55.83 billion, a PE ratio of 22.24, a P/E/G ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share 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 firm 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 business earned $1.04 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm 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 annualized dividend and a dividend yield of 4.14%. ONEOK’s dividend payout ratio is presently 92.09%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on OKE shares. JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. 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 upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Barclays raised their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $93.08.

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.