FSA Wealth Management LLC Buys New Stake in ONEOK, Inc. (NYSE:OKE)

FSA Wealth Management LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 629 shares of the utilities provider’s stock, valued at approximately $57,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. increased its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK during the 3rd quarter valued at $47,957,000. Bahl & Gaynor Inc. lifted its stake in shares of ONEOK by 3,648.4% in the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in shares of ONEOK by 3,137.6% in the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock valued at $330,000 after buying an additional 392,644 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.9 %

OKE stock opened at $113.60 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $66.36 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 5.75 and a beta of 1.66. The business has a fifty day moving average price of $100.75 and a 200 day moving average price of $90.13. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during 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 period in the prior year, the firm earned $0.99 earnings per share. Analysts expect that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Truist Financial upped their target price on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.