Frank Rimerman Advisors LLC Has $1.42 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Frank Rimerman Advisors LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 50.8% during the 3rd quarter, Holdings Channel reports. The fund owned 15,546 shares of the utilities provider’s stock after acquiring an additional 5,239 shares during the period. Frank Rimerman Advisors LLC’s holdings in ONEOK were worth $1,417,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quest Partners LLC bought a new stake in ONEOK in the 2nd quarter valued at about $28,000. Matrix Trust Co acquired a new position in ONEOK during the third quarter worth $29,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter valued at $31,000. Manchester Capital Management LLC increased its position in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in ONEOK during the 3rd quarter valued at about $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKE. Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial boosted their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Mizuho increased their target price 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, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Stock Down 0.8 %

OKE opened at $96.66 on Monday. 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 $63.33 and a one year high of $98.43. The firm has a market capitalization of $56.42 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. The company has a fifty day moving average price of $92.85 and a 200-day moving average price of $85.33.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the company earned $1.04 EPS. Equities research analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The shares were 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 SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.