Wealth Alliance Advisory Group LLC Has $1.59 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Wealth Alliance Advisory Group LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 32.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,449 shares of the utilities provider’s stock after buying an additional 4,230 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in ONEOK were worth $1,590,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caxton Associates LP acquired a new position in ONEOK during the second quarter worth about $1,225,000. Point72 Europe London LLP acquired a new position in ONEOK during the 2nd quarter worth approximately $15,008,000. Norden Group LLC lifted its stake in ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after purchasing an additional 131,441 shares during the last quarter. NewEdge Advisors LLC boosted its position in ONEOK by 61.0% in the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock valued at $11,836,000 after buying an additional 54,978 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of 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 buying an additional 1,128,066 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

OKE stock opened at $97.23 on Friday. The firm has a market cap of $56.79 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $91.79 and a 200-day moving average price of $84.68. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.01.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the company posted $1.04 earnings per share. As a group, equities research analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is 86.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKE shares. Wells Fargo & Company increased their price target on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Bank of America started coverage on ONEOK in a research note on Thursday. They issued a “buy” rating and a $105.00 price objective for the company. Truist Financial lifted their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $94.77.

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.