ORG Wealth Partners LLC Invests $106,000 in ONEOK, Inc. (NYSE:OKE)

ORG Wealth Partners LLC bought a new position in ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,161 shares of the utilities provider’s stock, valued at approximately $106,000.

Several other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of ONEOK by 28.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,233 shares of the utilities provider’s stock worth $751,000 after purchasing an additional 1,826 shares during the last quarter. CHICAGO TRUST Co NA grew its holdings in shares of ONEOK by 97.3% in the 3rd quarter. CHICAGO TRUST Co NA now owns 14,414 shares of the utilities provider’s stock worth $1,314,000 after purchasing an additional 7,107 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of ONEOK in the 3rd quarter worth about $206,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in ONEOK by 219.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,315 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 2,965 shares during the last quarter. Finally, Castle Rock Wealth Management LLC grew its holdings in ONEOK by 18.7% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 8,078 shares of the utilities provider’s stock worth $768,000 after acquiring an additional 1,271 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $97.50 on Tuesday. 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 company has a market capitalization of $56.91 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. The company’s 50 day moving average price is $90.81 and its two-hundred day moving average price is $84.26. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.01.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the business earned $1.04 EPS. On average, analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.06%. ONEOK’s dividend payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKE. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Barclays raised their target price on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Mizuho increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.38.

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.