Premier Fund Managers Ltd Buys 6,750 Shares of ONEOK, Inc. (NYSE:OKE)

Premier Fund Managers Ltd boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 11.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,750 shares of the utilities provider’s stock after purchasing an additional 6,750 shares during the quarter. Premier Fund Managers Ltd’s holdings in ONEOK were worth $6,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. grew its stake in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after buying an additional 105 shares during the last quarter. Claro Advisors LLC increased its stake in shares of ONEOK by 1.6% in the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 115 shares during the period. Haverford Trust Co increased its stake in shares of ONEOK by 1.2% in the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after purchasing an additional 117 shares during the period. QRG Capital Management Inc. lifted its position in shares of ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 119 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its stake in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.5 %

Shares of OKE opened at $113.10 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $66.07 billion, a PE ratio of 23.66, a PEG ratio of 5.48 and a beta of 1.66. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $113.23. The stock has a 50 day simple moving average of $97.38 and a 200-day simple moving average of $88.22.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, sell-side analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.50%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial raised their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Citigroup increased their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $100.38.

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.