Benjamin F. Edwards & Company Inc. Acquires 1,547 Shares of ONEOK, Inc. (NYSE:OKE)

Benjamin F. Edwards & Company Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,953 shares of the utilities provider’s stock after purchasing an additional 1,547 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in ONEOK were worth $17,448,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hilltop Holdings Inc. boosted its holdings in ONEOK by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 1,124 shares in the last quarter. TD Asset Management Inc boosted its holdings in ONEOK by 11.6% in the fourth quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after purchasing an additional 21,657 shares in the last quarter. Norden Group LLC lifted its position in ONEOK by 4,460.2% during 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. Wellington Management Group LLP lifted its position in ONEOK by 2,643.5% during the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after acquiring an additional 1,128,066 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in ONEOK by 8.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock worth $8,510,000 after acquiring an additional 9,722 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on OKE. Mizuho boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a research report on Monday. Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Truist Financial upped their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus price target of $92.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $93.77 on Friday. 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 firm has a market cap of $54.73 billion, a P/E ratio of 21.81, a P/E/G ratio of 4.49 and a beta of 1.67. The firm has a 50 day simple moving average of $87.05 and a 200 day simple moving average of $82.30. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $95.28.

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 business had revenue of $4.89 billion during 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 quarter last year, the business posted $1.04 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.22%. ONEOK’s payout ratio is presently 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.