Prime Capital Investment Advisors LLC Has $5.29 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Prime Capital Investment Advisors LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,091 shares of the utilities provider’s stock after selling 3,615 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in ONEOK were worth $5,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of ONEOK by 9,439.9% in the third 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 last quarter. M&G Plc acquired a new stake in shares of ONEOK in the first quarter valued at about $77,634,000. Bahl & Gaynor Inc. increased 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 worth $41,995,000 after purchasing an additional 501,216 shares during the period. Cetera Investment Advisers lifted its position in shares of ONEOK by 370.1% during the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after purchasing an additional 484,403 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in ONEOK by 3,137.6% in the 2nd 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 last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 1.1 %

Shares of NYSE:OKE opened at $107.81 on Wednesday. The company has a market cap of $62.98 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 5.44 and a beta of 1.66. ONEOK, Inc. has a one year low of $63.77 and a one year high of $109.21. The firm has a fifty day moving average price of $95.19 and a two-hundred day moving average price of $86.90. 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 (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the company earned $0.99 EPS. Analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 annualized dividend and a dividend yield of 3.67%. ONEOK’s dividend payout ratio is 82.85%.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on OKE shares. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Truist Financial raised their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank lifted their price target 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, Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Eight 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.92.

About ONEOK

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.