Nations Financial Group Inc. IA ADV Has $4.97 Million Stake in ONEOK, Inc. (NYSE:OKE)

Nations Financial Group Inc. IA ADV boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,557 shares of the utilities provider’s stock after purchasing an additional 5,451 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in ONEOK were worth $4,972,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Duality Advisers LP acquired a new stake in ONEOK during the 1st quarter worth approximately $375,000. Envestnet Portfolio Solutions Inc. boosted its position in ONEOK by 21.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after buying an additional 844 shares during the period. NorthRock Partners LLC boosted its position in ONEOK by 41.4% during the 1st quarter. NorthRock Partners LLC now owns 4,359 shares of the utilities provider’s stock worth $349,000 after buying an additional 1,276 shares during the period. Meeder Advisory Services Inc. boosted its position in ONEOK by 7.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 9,101 shares of the utilities provider’s stock worth $730,000 after buying an additional 634 shares during the period. Finally, Verus Capital Partners LLC boosted its position in ONEOK by 3.2% during the 1st quarter. Verus Capital Partners LLC now owns 5,915 shares of the utilities provider’s stock worth $474,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated 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 can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

OKE traded up $0.21 during trading on Monday, hitting $107.37. 181,683 shares of the company traded hands, compared to its average volume of 2,742,599. The firm has a market cap of $62.72 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 5.35 and a beta of 1.66. The stock’s fifty day moving average is $94.86 and its 200 day moving average is $86.71. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a one year low of $63.77 and a one year high of $107.84.

ONEOK (NYSE:OKE) last posted its quarterly 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 the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Truist Financial boosted their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.92.

ONEOK 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.