Cerity Partners LLC Buys 27,305 Shares of ONEOK, Inc. (NYSE:OKE)

Cerity Partners LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 21.5% during the 3rd quarter, Holdings Channel reports. The firm owned 154,250 shares of the utilities provider’s stock after buying an additional 27,305 shares during the quarter. Cerity Partners LLC’s holdings in ONEOK were worth $14,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after acquiring an additional 132,326 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Finally, abrdn plc grew its holdings in shares of ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $111.46 on Tuesday. The company has a market capitalization of $65.11 billion, a P/E ratio of 23.32, a P/E/G ratio of 5.84 and a beta of 1.66. The company’s 50-day simple moving average is $99.23 and its two-hundred day simple moving average is $89.22. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during 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 period last year, the company earned $0.99 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Wells Fargo & Company increased their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Citigroup raised their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Truist Financial boosted their target price on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Eight investment 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 company has an average rating of “Moderate Buy” and an average target price of $100.38.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is 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.