Stratos Wealth Partners LTD. Raises Holdings in ONEOK, Inc. (NYSE:OKE)

Stratos Wealth Partners LTD. increased its position in ONEOK, Inc. (NYSE:OKE) by 2.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 65,534 shares of the utilities provider’s stock after purchasing an additional 1,385 shares during the period. Stratos Wealth Partners LTD.’s holdings in ONEOK were worth $5,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings 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 acquiring an additional 119 shares in the last quarter. Johnson Investment Counsel Inc. raised its stake in ONEOK by 0.9% during the second 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 in the last quarter. Brighton Jones LLC lifted its position in ONEOK by 1.1% during the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after purchasing an additional 122 shares during the last quarter. Capital Wealth Planning LLC lifted its position in ONEOK by 4.3% during the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 131 shares during the last quarter. Finally, Aviso Wealth Management increased its holdings in shares of ONEOK by 1.7% in the 2nd quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock worth $637,000 after buying an additional 134 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Up 0.8 %

OKE stock opened at $97.23 on Friday. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.01. The firm’s 50-day moving average is $91.79 and its 200 day moving average is $84.68. The company has a market capitalization of $56.79 billion, a PE ratio of 21.18, a P/E/G ratio of 4.82 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates 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 company posted $1.04 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The company 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 $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is 86.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OKE shares. Truist Financial increased their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Citigroup raised their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Bank of America began coverage on ONEOK in a research report on Thursday. They issued a “buy” rating and a $105.00 price target for the company. Finally, Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $94.77.

Insider Transactions at ONEOK

In related 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 value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.