Erste Asset Management GmbH Buys New Position in ONEOK, Inc. (NYSE:OKE)

Erste Asset Management GmbH purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 103,291 shares of the utilities provider’s stock, valued at approximately $9,333,000.

Other hedge funds have also added to or reduced their stakes in the company. HM Payson & Co. raised its stake in ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares in the last quarter. Claro Advisors LLC raised its position in shares of ONEOK by 1.6% in the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after acquiring an additional 115 shares in the last quarter. Haverford Trust Co raised its position in shares of ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 117 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 119 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in ONEOK by 0.9% in the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 122 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Truist Financial lifted their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Finally, Barclays upped their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Stock Up 0.9 %

OKE stock opened at $113.60 on Monday. The stock has a market capitalization of $66.36 billion, a P/E ratio of 23.77, a P/E/G ratio of 5.75 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07. The business has a fifty day moving average price of $100.75 and a 200-day moving average price of $90.13.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the firm posted $0.99 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was 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 can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

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.