ONEOK, Inc. (NYSE:OKE) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,670 shares of the utilities provider’s stock after buying an additional 1,086 shares during the quarter. Crestwood Advisors Group LLC’s holdings in ONEOK were worth $699,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Caxton Associates LP acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP purchased a new stake in shares of ONEOK during the second quarter worth approximately $15,008,000. Sageworth Trust Co purchased a new stake in shares of ONEOK during the third quarter worth approximately $568,000. National Pension Service increased its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of ONEOK by 61.0% during the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock worth $11,836,000 after purchasing an additional 54,978 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE OKE opened at $102.20 on Thursday. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $103.12. The business has a 50-day moving average of $94.29 and a 200-day moving average of $86.31. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $59.70 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 4.08 and a beta of 1.66.

ONEOK (NYSE:OKE) last announced 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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the company earned $0.99 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analysts Set New Price Targets

OKE has been the subject of several research reports. Truist Financial boosted their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.92.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

ONEOK 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.