Wealth Enhancement Advisory Services LLC Acquires 18,782 Shares of ONEOK, Inc. (NYSE:OKE)

Wealth Enhancement Advisory Services LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 9.4% in the third quarter, HoldingsChannel reports. The fund owned 218,544 shares of the utilities provider’s stock after buying an additional 18,782 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ONEOK were worth $19,916,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. QRG Capital Management Inc. boosted its position in shares of ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the period. Johnson Investment Counsel Inc. boosted its position 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 valued at $1,111,000 after acquiring an additional 122 shares during the period. Brighton Jones LLC boosted its position 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 valued at $935,000 after acquiring an additional 122 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in shares of ONEOK by 1.4% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock valued at $839,000 after acquiring an additional 125 shares during the period. Finally, Capital Wealth Planning LLC lifted its position in ONEOK by 4.3% during the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 131 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on OKE. Truist Financial upped their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Mizuho upped their price objective 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 research report on Thursday, July 18th. Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Eight research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

ONEOK Stock Performance

ONEOK stock opened at $96.66 on Monday. The business has a 50 day moving average of $92.85 and a 200-day moving average of $85.33. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43. 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 company has a market capitalization of $56.42 billion, a P/E ratio of 22.48, a P/E/G ratio of 4.31 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its 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 the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm posted $1.04 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is presently 92.09%.

Insider Buying and Selling at ONEOK

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

ONEOK Company 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.