Axiom Advisory LLC Purchases 298 Shares of ONEOK, Inc. (NYSE:OKE)

Axiom Advisory LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 2.7% during the third quarter, HoldingsChannel reports. The fund owned 11,266 shares of the utilities provider’s stock after buying an additional 298 shares during the quarter. Axiom Advisory LLC’s holdings in ONEOK were worth $981,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in OKE. QRG Capital Management Inc. boosted its stake in ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 119 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in shares of ONEOK by 0.9% in the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after buying an additional 122 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after buying an additional 122 shares in the last quarter. Capital Wealth Planning LLC boosted its position in shares of ONEOK by 4.3% in the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 131 shares during the period. Finally, Aviso Wealth Management grew its stake in ONEOK by 1.7% during the second quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock valued at $637,000 after acquiring an additional 134 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $310,901.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several analyst reports. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada lifted their price objective on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped 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 price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $92.38.

ONEOK Price Performance

Shares of ONEOK stock opened at $93.57 on Wednesday. The stock has a market capitalization of $54.61 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 4.62 and a beta of 1.67. The company has a fifty day moving average of $89.41 and a 200-day moving average of $83.69. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $96.05. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period last year, the firm earned $1.04 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.23%. ONEOK’s payout ratio is currently 92.09%.

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.