First Trust Direct Indexing L.P. Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

First Trust Direct Indexing L.P. increased its position in ONEOK, Inc. (NYSE:OKE) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,007 shares of the utilities provider’s stock after buying an additional 1,237 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ONEOK were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Caxton Associates LP bought a new stake in ONEOK in the 2nd quarter worth approximately $1,225,000. Point72 Europe London LLP bought a new stake in ONEOK in the 2nd quarter worth approximately $15,008,000. Sageworth Trust Co bought a new stake in ONEOK in the 3rd quarter worth approximately $568,000. NewEdge Advisors LLC lifted its position in ONEOK by 61.0% in the 2nd quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock worth $11,836,000 after buying an additional 54,978 shares during the last quarter. Finally, Catalyst Financial Partners LLC bought a new stake in ONEOK in the 2nd quarter worth approximately $328,000. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the 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 legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

OKE has been the subject of a number of recent research reports. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Scotiabank boosted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Truist Financial boosted their price objective on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $96.00.

ONEOK Price Performance

Shares of OKE stock opened at $96.21 on Thursday. The stock has a market cap of $56.19 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 4.17 and a beta of 1.67. The business’s fifty day moving average is $93.37 and its 200 day moving average is $85.64. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.43. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 analysts’ expectations of $5.81 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 earned $0.99 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.12%. ONEOK’s payout ratio is 86.27%.

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.