RKL Wealth Management LLC Has $1.12 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

RKL Wealth Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 7.6% during the third quarter, Holdings Channel reports. The firm owned 12,241 shares of the utilities provider’s stock after acquiring an additional 865 shares during the period. RKL Wealth Management LLC’s holdings in ONEOK were worth $1,115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. increased its position in shares of ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after purchasing an additional 232,043 shares during the period. First Eagle Investment Management LLC increased its position in shares of ONEOK by 12.3% in the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after purchasing an additional 378,509 shares during the period. Energy Income Partners LLC increased its position in shares of ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after purchasing an additional 319,487 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $107.16 on Friday. The stock has a market cap of $62.60 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 5.10 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock’s 50-day moving average is $94.86 and its 200-day moving average is $86.63. ONEOK, Inc. has a 1-year low of $63.77 and a 1-year high of $107.19.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the firm posted $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed 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 dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Eight 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

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.