Victory Capital Management Inc. Has $43.82 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Victory Capital Management Inc. lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 537,284 shares of the utilities provider’s stock after purchasing an additional 1,943 shares during the quarter. Victory Capital Management Inc.’s holdings in ONEOK were worth $43,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. QRG Capital Management Inc. increased its position in ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after buying an additional 119 shares during the last quarter. Sheets Smith Wealth Management increased its holdings in shares of ONEOK by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after acquiring an additional 139 shares during the last quarter. Ameritas Advisory Services LLC raised its stake in shares of ONEOK by 0.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after acquiring an additional 140 shares in the last quarter. Monarch Capital Management Inc. lifted its holdings in ONEOK by 0.9% in the 2nd quarter. Monarch Capital Management Inc. now owns 15,716 shares of the utilities provider’s stock worth $1,282,000 after purchasing an additional 143 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 144 shares during the period. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $92.03 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The business’s fifty day moving average price is $85.45 and its two-hundred day moving average price is $81.38. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The stock has a market capitalization of $53.75 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share 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 business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is currently 92.09%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Wells Fargo & Company boosted their price objective on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, ONEOK has an average rating of “Hold” and an average target price of $89.92.

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.