ONEOK, Inc. (NYSE:OKE) Stock Position Increased by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,479 shares of the utilities provider’s stock after purchasing an additional 1,000 shares during the quarter. Chesley Taft & Associates LLC’s holdings in ONEOK were worth $5,147,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bangor Savings Bank bought a new stake in shares of ONEOK during the 3rd quarter worth $51,000. WealthBridge Capital Management LLC boosted its stake in shares of ONEOK by 12.8% in the 3rd quarter. WealthBridge Capital Management LLC now owns 9,819 shares of the utilities provider’s stock valued at $895,000 after purchasing an additional 1,115 shares in the last quarter. GAMMA Investing LLC grew its position in ONEOK by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 9,692 shares of the utilities provider’s stock worth $883,000 after acquiring an additional 1,416 shares during the last quarter. SG Americas Securities LLC increased its position in ONEOK by 4.4% in the 3rd quarter. SG Americas Securities LLC now owns 231,775 shares of the utilities provider’s stock valued at $21,122,000 after acquiring an additional 9,860 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of ONEOK by 7.0% in the 3rd quarter. Czech National Bank now owns 118,982 shares of the utilities provider’s stock valued at $10,843,000 after buying an additional 7,763 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of analyst reports. Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Mizuho upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their price objective on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price objective on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Truist Financial boosted their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.38.

ONEOK Price Performance

NYSE:OKE opened at $94.84 on Tuesday. The stock has a market cap of $55.35 billion, a PE ratio of 22.06, a P/E/G ratio of 4.62 and a beta of 1.67. 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 stock has a 50 day moving average price of $89.16 and a 200 day moving average price of $83.59. ONEOK, Inc. has a one year low of $63.33 and a one year high of $96.05.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for 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 period in the prior year, the firm earned $1.04 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.18%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is currently 92.09%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were 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 hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.