Toroso Investments LLC Increases Holdings in ONEOK, Inc. (NYSE:OKE)

Toroso Investments LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 24.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,392 shares of the utilities provider’s stock after purchasing an additional 4,550 shares during the quarter. Toroso Investments LLC’s holdings in ONEOK were worth $1,199,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Invst LLC raised its holdings in shares of ONEOK by 11.0% during the 3rd quarter. Invst LLC now owns 20,502 shares of the utilities provider’s stock valued at $1,093,000 after buying an additional 2,031 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of ONEOK by 10.2% during the 3rd quarter. IHT Wealth Management LLC now owns 8,859 shares of the utilities provider’s stock valued at $454,000 after buying an additional 818 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of ONEOK by 93.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 29,265 shares of the utilities provider’s stock valued at $1,500,000 after buying an additional 14,111 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of ONEOK during the 3rd quarter valued at about $2,134,000. Finally, California State Teachers Retirement System grew its position in ONEOK by 2.2% during the 3rd quarter. California State Teachers Retirement System now owns 804,701 shares of the utilities provider’s stock worth $41,233,000 after acquiring an additional 17,152 shares during the last quarter. 67.16% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 2.5 %

NYSE OKE opened at $59.49 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. ONEOK, Inc. has a twelve month low of $50.50 and a twelve month high of $75.07. The firm has a market capitalization of $26.61 billion, a PE ratio of 15.53, a P/E/G ratio of 1.40 and a beta of 1.68. The stock’s 50 day moving average is $67.73 and its 200 day moving average is $63.35.

ONEOK (NYSE:OKE – Get Rating) last released its quarterly earnings results on Monday, February 27th. The utilities provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. ONEOK had a return on equity of 27.65% and a net margin of 7.69%. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis. Research analysts forecast that ONEOK, Inc. will post 5.28 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, January 30th were given a dividend of $0.955 per share. The ex-dividend date of this dividend was Friday, January 27th. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. This represents a $3.82 annualized dividend and a dividend yield of 6.42%. ONEOK’s payout ratio is currently 99.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OKE shares. Seaport Res Ptn restated a “neutral” rating on shares of ONEOK in a research report on Thursday, February 16th. StockNews.com started coverage on ONEOK in a research report on Thursday. They set a “hold” rating on the stock. Citigroup began coverage on ONEOK in a research report on Thursday, December 8th. They set a “neutral” rating and a $67.00 price target on the stock. Truist Financial lifted their price objective on ONEOK from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, December 21st. Finally, Wells Fargo & Company upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $75.00 in a research report on Friday, December 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average target price of $73.44.

ONEOK Company Profile

(Get Rating)

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.