RFG Advisory LLC Purchases 7,626 Shares of ONEOK, Inc. (NYSE:OKE)

RFG Advisory LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 34.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,852 shares of the utilities provider’s stock after buying an additional 7,626 shares during the quarter. RFG Advisory LLC’s holdings in ONEOK were worth $2,393,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after buying an additional 5,525,010 shares during the period. Norges Bank bought a new position in shares of ONEOK in the fourth quarter valued at about $297,948,000. Deutsche Bank AG lifted its position in shares of ONEOK by 37.7% during the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after purchasing an additional 3,636,660 shares in the last quarter. Blackstone Inc. boosted its holdings in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after acquiring an additional 3,478,316 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in ONEOK by 5,247.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after acquiring an additional 2,417,849 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on OKE. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Morgan Stanley raised their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Truist Financial upped their price target on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. UBS Group raised their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average price target of $84.25.

View Our Latest Report on ONEOK

ONEOK Price Performance

OKE traded down $1.17 on Friday, hitting $79.88. 6,799,838 shares of the stock were exchanged, compared to its average volume of 2,392,754. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. ONEOK, Inc. has a 12 month low of $57.37 and a 12 month high of $83.31. The firm has a market capitalization of $46.62 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 4.35 and a beta of 1.65. The business has a 50-day moving average of $79.86 and a two-hundred day moving average of $75.30.

ONEOK (NYSE:OKEGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the firm earned $2.34 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is 92.09%.

ONEOK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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