14,000 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. bought a new position in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,000 shares of the utilities provider’s stock, valued at approximately $1,142,000.

Several other institutional investors also recently modified their holdings of OKE. Rise Advisors LLC purchased a new position in ONEOK in the first quarter worth $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK in the 1st quarter worth about $26,000. Quest Partners LLC purchased a new stake in ONEOK during the second quarter worth about $28,000. Ridgewood Investments LLC bought a new stake in ONEOK in the second quarter worth about $31,000. Finally, American National Bank purchased a new position in ONEOK in the first quarter valued at about $32,000. 69.13% of the stock is owned by institutional investors.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Price Performance

NYSE:OKE opened at $92.03 on Tuesday. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $93.00. The stock has a fifty day moving average of $85.45 and a 200 day moving average of $81.38. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 4.51 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the company posted $1.04 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.30%. ONEOK’s dividend payout ratio is presently 92.09%.

Analyst Upgrades and Downgrades

OKE has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Royal Bank of Canada lifted their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Truist Financial upped their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.92.

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.