Capital Wealth Planning LLC Purchases 131 Shares of ONEOK, Inc. (NYSE:OKE)

Capital Wealth Planning LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 4.3% in the second quarter, Holdings Channel reports. The firm owned 3,166 shares of the utilities provider’s stock after purchasing an additional 131 shares during the period. Capital Wealth Planning LLC’s holdings in ONEOK were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. NorthRock Partners LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $216,000. Financial Advocates Investment Management grew its holdings in ONEOK by 6.1% during the fourth quarter. Financial Advocates Investment Management now owns 8,494 shares of the utilities provider’s stock valued at $596,000 after purchasing an additional 490 shares during the period. Independent Advisor Alliance increased its position in ONEOK by 12.3% in the fourth quarter. Independent Advisor Alliance now owns 15,828 shares of the utilities provider’s stock worth $1,111,000 after buying an additional 1,729 shares during the last quarter. Kentucky Retirement Systems raised its stake in shares of ONEOK by 38.6% in the fourth quarter. Kentucky Retirement Systems now owns 46,610 shares of the utilities provider’s stock valued at $3,273,000 after buying an additional 12,989 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of ONEOK by 38.3% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 20,754 shares of the utilities provider’s stock valued at $1,457,000 after buying an additional 5,743 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

Shares of ONEOK stock opened at $91.37 on Monday. The business’s 50-day moving average price is $86.12 and its 200-day moving average price is $81.87. The firm has a market capitalization of $53.33 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.47 and a beta of 1.67. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $93.00. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

OKE has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Truist Financial raised their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Morgan Stanley raised their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.92.

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.