Gentry Private Wealth LLC Takes $457,000 Position in ONEOK, Inc. (NYSE:OKE)

Gentry Private Wealth LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 5,600 shares of the utilities provider’s stock, valued at approximately $457,000.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its stake 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 in the last quarter. Sheets Smith Wealth Management grew its stake in shares of ONEOK by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after acquiring an additional 139 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in shares of ONEOK by 0.3% in the second quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after acquiring an additional 140 shares in the last quarter. Monarch Capital Management Inc. grew its stake in shares of ONEOK by 0.9% in the second quarter. Monarch Capital Management Inc. now owns 15,716 shares of the utilities provider’s stock valued at $1,282,000 after acquiring an additional 143 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of ONEOK by 4.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 144 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on OKE. Truist Financial upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Royal Bank of Canada increased their price objective on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Finally, Mizuho increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.92.

ONEOK Stock Performance

Shares of ONEOK stock opened at $91.06 on Friday. The company’s 50 day moving average price is $85.25 and its two-hundred day moving average price is $81.13. The firm has a market capitalization of $53.15 billion, a P/E ratio of 21.18, a P/E/G ratio of 3.66 and a beta of 1.67. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The firm 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 last year, the firm earned $1.04 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.05 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

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.