ONEOK, Inc. (NYSE:OKE) is Heronetta Management L.P.’s 3rd Largest Position

Heronetta Management L.P. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,252 shares of the utilities provider’s stock after acquiring an additional 1,200 shares during the period. ONEOK comprises approximately 9.9% of Heronetta Management L.P.’s portfolio, making the stock its 3rd biggest holding. Heronetta Management L.P.’s holdings in ONEOK were worth $14,422,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OKE. Tortoise Capital Advisors L.L.C. boosted its holdings in ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of ONEOK by 12.3% in the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after purchasing an additional 378,509 shares during the last quarter. Energy Income Partners LLC grew its holdings in shares of ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after purchasing an additional 319,487 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after buying an additional 132,326 shares during the period. Finally, International Assets Investment Management LLC boosted its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ONEOK

In related 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 value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on OKE shares. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Truist Financial increased their target price on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $96.92.

ONEOK Price Performance

Shares of NYSE:OKE opened at $104.13 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 4.08 and a beta of 1.66. The firm has a fifty day moving average price of $94.29 and a 200 day moving average price of $86.31. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $104.50.

ONEOK (NYSE:OKE) last released 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 for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the business earned $0.99 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.80%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

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.