DT Investment Partners LLC Increases Position in ONEOK, Inc. (NYSE:OKE)

DT Investment Partners LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 16.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,795 shares of the utilities provider’s stock after purchasing an additional 254 shares during the period. DT Investment Partners LLC’s holdings in ONEOK were worth $164,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in ONEOK by 119.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock worth $53,657,000 after buying an additional 320,967 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of ONEOK by 12.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 222,728 shares of the utilities provider’s stock worth $20,297,000 after acquiring an additional 24,805 shares in the last quarter. Pinnacle West Asset Management Inc. lifted its stake in ONEOK by 0.7% during the third quarter. Pinnacle West Asset Management Inc. now owns 21,782 shares of the utilities provider’s stock worth $1,985,000 after purchasing an additional 150 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in ONEOK in the third quarter valued at approximately $326,000. Finally, Patrick M Sweeney & Associates Inc. increased its stake in ONEOK by 8.6% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,965 shares of the utilities provider’s stock valued at $361,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on OKE. Mizuho upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Truist Financial upped their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Barclays raised their price target on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $94.77.

ONEOK Trading Up 0.7 %

Shares of OKE stock opened at $97.45 on Friday. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.43. 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 business’s 50 day moving average is $92.46 and its two-hundred day moving average is $85.04. The company has a market capitalization of $56.92 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the company posted $1.04 EPS. Equities analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.06%. ONEOK’s payout ratio is currently 86.27%.

About ONEOK

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.