ONEOK, Inc. (NYSE:OKE) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in ONEOK, Inc. (NYSE:OKEFree Report) by 158.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 422,913 shares of the utilities provider’s stock after buying an additional 259,522 shares during the quarter. HighTower Advisors LLC owned approximately 0.09% of ONEOK worth $26,807,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new stake in ONEOK in the 3rd quarter valued at $25,000. First Command Bank grew its holdings in ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after buying an additional 393 shares in the last quarter. Quent Capital LLC lifted its stake in shares of ONEOK by 97.7% in the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 216 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $29,000. Finally, Worth Asset Management LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $30,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Eduardo A. Rodriguez sold 800 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $70.29, for a total value of $56,232.00. Following the sale, the director now owns 25,154 shares of the company’s stock, valued at approximately $1,768,074.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OKE. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Royal Bank of Canada upped their price target on ONEOK from $69.00 to $76.00 and gave the company a “sector perform” rating in a research note on Thursday, November 16th. Raymond James upped their price target on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Truist Financial upped their price target on ONEOK from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.91.

View Our Latest Stock Analysis on ONEOK

ONEOK Price Performance

OKE stock opened at $69.04 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.97 and a quick ratio of 0.66. The firm has a market capitalization of $40.22 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.93 and a beta of 1.64. The business’s 50-day moving average is $69.47 and its two-hundred day moving average is $67.18. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $72.51.

ONEOK declared that its board has approved a share repurchase plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th will be given a $0.99 dividend. The ex-dividend date of this dividend is Monday, January 29th. This represents a $3.96 dividend on an annualized basis and a yield of 5.74%. This is a positive change from ONEOK’s previous quarterly dividend of $0.96. ONEOK’s dividend payout ratio (DPR) is currently 72.66%.

About ONEOK

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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