Secure Asset Management LLC Invests $207,000 in ONEOK, Inc. (NYSE:OKE)

Secure Asset Management LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,272 shares of the utilities provider’s stock, valued at approximately $207,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new stake in ONEOK during the 2nd quarter worth $1,225,000. Point72 Europe London LLP purchased a new stake in shares of ONEOK during the 2nd quarter valued at about $15,008,000. Norden Group LLC grew its position in ONEOK by 4,460.2% in the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after acquiring an additional 131,441 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of ONEOK by 61.0% during the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock valued at $11,836,000 after purchasing an additional 54,978 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Truist Financial boosted their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Mizuho raised their price target 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. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada raised their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Price Performance

ONEOK stock opened at $97.23 on Friday. The business’s fifty day moving average is $91.79 and its two-hundred day moving average is $84.68. 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 firm has a market cap of $56.79 billion, a P/E ratio of 21.18, a P/E/G ratio of 4.82 and a beta of 1.67. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.01.

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. Equities research analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is presently 86.27%.

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.