Strategy Asset Managers LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Strategy Asset Managers LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,305 shares of the utilities provider’s stock, valued at approximately $375,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Donaldson Capital Management LLC raised its stake in shares of ONEOK by 0.9% in the 4th quarter. Donaldson Capital Management LLC now owns 20,918 shares of the utilities provider’s stock valued at $1,229,000 after acquiring an additional 184 shares during the period. Private Wealth Advisors LLC raised its position in ONEOK by 3.3% in the third quarter. Private Wealth Advisors LLC now owns 5,821 shares of the utilities provider’s stock valued at $364,000 after purchasing an additional 186 shares during the period. Invst LLC lifted its stake in shares of ONEOK by 1.4% during the fourth quarter. Invst LLC now owns 14,695 shares of the utilities provider’s stock worth $893,000 after purchasing an additional 199 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of ONEOK by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,900 shares of the utilities provider’s stock worth $1,639,000 after purchasing an additional 200 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in shares of ONEOK by 1.8% in the fourth quarter. Wesbanco Bank Inc. now owns 11,315 shares of the utilities provider’s stock worth $665,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 65.46% of the company’s stock.

In other ONEOK news, CEO Pierce Norton acquired 8,975 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were purchased at an average price of $55.54 per share, for a total transaction of $498,471.50. Following the completion of the purchase, the chief executive officer now directly owns 9,414 shares in the company, valued at $522,853.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by corporate insiders.

A number of research firms have weighed in on OKE. Wells Fargo & Company decreased their price target on ONEOK to $71.00 and set an “equal weight” rating for the company in a report on Friday, May 20th. Raymond James raised their price target on shares of ONEOK from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Credit Suisse Group boosted their price objective on shares of ONEOK from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, March 15th. Mizuho raised their target price on ONEOK from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, March 2nd. Finally, Truist Financial boosted their price target on ONEOK from $72.00 to $78.00 in a research note on Thursday, March 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.08.

Shares of OKE opened at $53.82 on Thursday. ONEOK, Inc. has a 52 week low of $48.51 and a 52 week high of $75.07. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 2.13. The firm has a market cap of $24.04 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.74 and a beta of 1.75. The stock has a 50 day moving average of $64.80 and a 200-day moving average of $64.07.

ONEOK (NYSE:OKE – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5 billion. ONEOK had a return on equity of 25.33% and a net margin of 8.01%. During the same quarter last year, the business earned $0.86 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 3.88 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Monday, May 2nd were given a dividend of $0.935 per share. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date was Friday, April 29th. ONEOK’s dividend payout ratio is presently 110.98%.

ONEOK Profile (Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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