Dynamic Technology Lab Private Ltd Takes $990,000 Position in ONEOK, Inc. (NYSE:OKE)

Dynamic Technology Lab Private Ltd bought a new position in ONEOK, Inc. (NYSE:OKE) during the third quarter, HoldingsChannel reports. The fund bought 10,861 shares of the utilities provider’s stock, valued at approximately $990,000.

Several other institutional investors and hedge funds also recently bought and sold shares of OKE. Quest Partners LLC purchased a new stake in shares of ONEOK in the second quarter worth $28,000. Matrix Trust Co bought a new stake in ONEOK during the third quarter valued at about $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK in the second quarter valued at about $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter worth about $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK during the third quarter worth about $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.8 %

Shares of OKE opened at $112.59 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business has a fifty day moving average of $99.98 and a 200 day moving average of $89.62. The company has a market cap of $65.77 billion, a PE ratio of 23.55, a P/E/G ratio of 5.56 and a beta of 1.66. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business posted $0.99 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. ONEOK’s payout ratio is 82.85%.

Analysts Set New Price Targets

A number of research firms recently commented on OKE. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Morgan Stanley upgraded shares of 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 report on Monday, September 16th. Truist Financial increased their price objective on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.38.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

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.