First Trust Direct Indexing L.P. Has $2.10 Million Stake in ONEOK, Inc. (NYSE:OKE)

First Trust Direct Indexing L.P. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,007 shares of the utilities provider’s stock after purchasing an additional 1,237 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ONEOK were worth $2,097,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Adams Natural Resources Fund Inc. raised its position in ONEOK by 36.2% in the 3rd quarter. Adams Natural Resources Fund Inc. now owns 187,800 shares of the utilities provider’s stock valued at $17,114,000 after buying an additional 49,900 shares during the last quarter. Childress Capital Advisors LLC purchased a new stake in ONEOK in the 3rd quarter valued at $213,000. Highview Capital Management LLC DE raised its position in ONEOK by 5.9% in the 3rd quarter. Highview Capital Management LLC DE now owns 11,258 shares of the utilities provider’s stock valued at $1,026,000 after buying an additional 632 shares during the last quarter. Davidson Capital Management Inc. purchased a new stake in ONEOK in the 3rd quarter valued at $1,621,000. Finally, Fortitude Family Office LLC raised its position in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.7 %

Shares of ONEOK stock opened at $96.21 on Thursday. 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 stock has a market capitalization of $56.19 billion, a P/E ratio of 20.96, a P/E/G ratio of 4.17 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43. The stock’s 50-day simple moving average is $93.37 and its 200 day simple moving average is $85.64.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the previous year, the firm earned $0.99 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is presently 86.27%.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Barclays increased their price target on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

ONEOK Company 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.