Moody National Bank Trust Division Acquires 214 Shares of ONEOK, Inc. (NYSE:OKE)

Moody National Bank Trust Division raised its holdings in ONEOK, Inc. (NYSE:OKE) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,154 shares of the utilities provider’s stock after acquiring an additional 214 shares during the quarter. Moody National Bank Trust Division’s holdings in ONEOK were worth $935,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Resurgent Financial Advisors LLC purchased a new position in ONEOK in the 4th quarter worth about $29,000. WealthPLAN Partners LLC purchased a new position in shares of ONEOK during the first quarter worth approximately $29,000. Grove Bank & Trust raised its stake in shares of ONEOK by 211.2% during the first quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 321 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of ONEOK in the first quarter valued at approximately $30,000. Finally, Quarry LP bought a new position in ONEOK in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research reports. Truist Financial upped their target price on ONEOK from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. StockNews.com lowered shares of ONEOK from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Wells Fargo & Company lowered their target price on ONEOK from $75.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, August 11th. Finally, Raymond James lifted their price target on ONEOK from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, August 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.73.

ONEOK Trading Down 1.5 %

Shares of NYSE:OKE opened at $67.51 on Friday. The business’s 50-day moving average is $65.34 and its 200 day moving average is $63.34. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.23 and a quick ratio of 0.92. ONEOK, Inc. has a 1 year low of $50.50 and a 1 year high of $71.57. The firm has a market capitalization of $30.22 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.85 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 7th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4.13 billion. ONEOK had a net margin of 12.68% and a return on equity of 35.84%. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, research analysts predict that ONEOK, Inc. will post 5.63 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date was Monday, July 31st. ONEOK’s dividend payout ratio (DPR) is presently 70.48%.

Insider Activity at ONEOK

In other news, CEO Pierce Norton purchased 24,607 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were acquired at an average price of $60.96 per share, for a total transaction of $1,500,042.72. Following the purchase, the chief executive officer now owns 42,017 shares in the company, valued at $2,561,356.32. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other ONEOK news, Director Brian L. Derksen purchased 4,900 shares of ONEOK stock in a transaction on Wednesday, June 28th. The stock was bought at an average cost of $59.59 per share, with a total value of $291,991.00. Following the transaction, the director now owns 18,700 shares of the company’s stock, valued at approximately $1,114,333. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pierce Norton acquired 24,607 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was acquired at an average price of $60.96 per share, for a total transaction of $1,500,042.72. Following the purchase, the chief executive officer now directly owns 42,017 shares of the company’s stock, valued at $2,561,356.32. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.