5,624 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,624 shares of the utilities provider’s stock, valued at approximately $513,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Wellington Management Group LLP boosted its position in ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after acquiring an additional 1,128,066 shares during the last quarter. Rise Advisors LLC acquired a new position in ONEOK during the first quarter worth about $25,000. Park Avenue Securities LLC boosted its position in ONEOK by 13.1% during the first quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock worth $600,000 after acquiring an additional 864 shares during the last quarter. RFG Advisory LLC boosted its position in ONEOK by 34.3% during the first quarter. RFG Advisory LLC now owns 29,852 shares of the utilities provider’s stock worth $2,393,000 after acquiring an additional 7,626 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in ONEOK by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 48,103 shares of the utilities provider’s stock worth $3,856,000 after acquiring an additional 306 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value of $310,901.79. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

ONEOK Price Performance

Shares of OKE opened at $97.23 on Friday. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.01. The firm’s 50 day moving average price is $91.79 and its 200 day moving average price is $84.68. The company has a market cap of $56.79 billion, a P/E ratio of 21.18, a PEG ratio of 4.82 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

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 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 for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the firm earned $1.04 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm 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 dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.07%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is currently 86.27%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OKE shares. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday. Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Truist Financial boosted their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company boosted their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

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.