Disciplined Investments LLC Purchases 1,962 Shares of ONEOK, Inc. (NYSE:OKE)

Disciplined Investments LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,020 shares of the utilities provider’s stock after acquiring an additional 1,962 shares during the quarter. Disciplined Investments LLC’s holdings in ONEOK were worth $1,633,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake 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 acquiring an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of 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 buying an additional 122 shares during the last quarter. Capital Wealth Planning LLC grew its stake in shares of 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 buying an additional 131 shares during the last quarter. Sheets Smith Wealth Management grew its stake in shares of ONEOK by 0.3% during the first quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after buying an additional 139 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in shares of ONEOK by 0.3% during the second quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after buying an additional 140 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Truist Financial raised their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada raised their price objective on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Barclays raised their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.38.

ONEOK Stock Performance

Shares of OKE opened at $94.66 on Wednesday. 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, Inc. has a one year low of $60.58 and a one year high of $94.95. The company has a 50-day simple moving average of $86.60 and a two-hundred day simple moving average of $82.14. The firm has a market capitalization of $55.29 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $5.52 billion. During the same period last year, the business earned $1.04 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.18%. ONEOK’s payout ratio is 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.