Capital Wealth Planning LLC Has $258,000 Position in ONEOK, Inc. (NYSE:OKE)

Capital Wealth Planning LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,166 shares of the utilities provider’s stock after acquiring an additional 131 shares during the period. Capital Wealth Planning LLC’s holdings in ONEOK were worth $258,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OKE. Tortoise Capital Advisors L.L.C. raised its position in shares of ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after buying an additional 232,043 shares in the last quarter. Northern Trust Corp lifted its stake in ONEOK by 1.5% during the fourth quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after purchasing an additional 85,736 shares during the last quarter. Norges Bank acquired a new stake in shares of ONEOK in the 4th quarter valued at $297,948,000. Kayne Anderson Capital Advisors LP increased its stake in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

OKE stock opened at $91.37 on Monday. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $93.00. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $86.12 and a 200-day moving average price of $81.87. The firm has a market cap of $53.33 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.47 and a beta of 1.67.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OKE shares. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada lifted their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Truist Financial increased their price objective 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. Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.92.

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.