ONEOK, Inc. (NYSE:OKE) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 47.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 133,555 shares of the utilities provider’s stock after buying an additional 43,101 shares during the quarter. Pacer Advisors Inc.’s holdings in ONEOK were worth $12,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of ONEOK in the second quarter valued at about $28,000. Matrix Trust Co purchased a new position in ONEOK during the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new stake in ONEOK during the 2nd quarter valued at approximately $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the third quarter worth $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK during the third quarter worth $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OKE. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Scotiabank lifted their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Morgan Stanley raised shares of 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. Truist Financial boosted their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Stock Performance

Shares of OKE stock opened at $117.04 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $68.37 billion, a P/E ratio of 24.49, a P/E/G ratio of 5.82 and a beta of 1.66. The firm’s 50 day moving average price is $98.87 and its 200-day moving average price is $88.86. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.38%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the 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 SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

About ONEOK

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.