SpiderRock Advisors LLC Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

SpiderRock Advisors LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,093 shares of the utilities provider’s stock after acquiring an additional 147 shares during the quarter. SpiderRock Advisors LLC’s holdings in ONEOK were worth $738,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Equitable Trust Co. bought a new stake in ONEOK in the 3rd quarter worth approximately $458,000. Leavell Investment Management Inc. grew its holdings in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the period. Heronetta Management L.P. increased its position in ONEOK by 0.8% during the third quarter. Heronetta Management L.P. now owns 158,252 shares of the utilities provider’s stock valued at $14,422,000 after acquiring an additional 1,200 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in ONEOK by 3.5% in the third quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock valued at $64,731,000 after acquiring an additional 24,193 shares during the period. Finally, Advisors Management Group Inc. ADV boosted its position in ONEOK by 5.8% in the third quarter. Advisors Management Group Inc. ADV now owns 8,558 shares of the utilities provider’s stock worth $780,000 after purchasing an additional 472 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 2.9 %

Shares of OKE opened at $107.16 on Monday. The firm has a market cap of $62.60 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $63.77 and a 1 year high of $107.19. The company has a 50 day simple moving average of $94.86 and a two-hundred day simple moving average of $86.67.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.70%. ONEOK’s dividend payout ratio is currently 82.85%.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. Barclays upped their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Truist Financial upped their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.