Larson Financial Group LLC Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Larson Financial Group LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,918 shares of the utilities provider’s stock after buying an additional 1,585 shares during the quarter. Larson Financial Group LLC’s holdings in ONEOK were worth $2,358,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 119 shares during the period. Sheets Smith Wealth Management increased its holdings in shares of ONEOK by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock worth $4,185,000 after buying an additional 139 shares during the last quarter. Ameritas Advisory Services LLC raised its position in shares of ONEOK by 0.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock worth $3,474,000 after buying an additional 140 shares during the period. Monarch Capital Management Inc. boosted its holdings in ONEOK by 0.9% in the second quarter. Monarch Capital Management Inc. now owns 15,716 shares of the utilities provider’s stock valued at $1,282,000 after acquiring an additional 143 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKE shares. Mizuho lifted their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Truist Financial boosted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.92.

ONEOK Stock Down 0.8 %

Shares of OKE stock traded down $0.72 during trading hours on Wednesday, hitting $91.52. 444,743 shares of the company were exchanged, compared to its average volume of 2,749,069. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 4.61 and a beta of 1.65. The business’s 50-day simple moving average is $84.62 and its two-hundred day simple moving average is $80.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. ONEOK, Inc. has a one year low of $60.58 and a one year high of $93.00.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.05 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.33%. ONEOK’s dividend payout ratio is currently 92.09%.

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.