Claro Advisors LLC Grows Position in ONEOK, Inc. (NYSE:OKE)

Claro Advisors LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,132 shares of the utilities provider’s stock after acquiring an additional 115 shares during the quarter. Claro Advisors LLC’s holdings in ONEOK were worth $650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tower Bridge Advisors grew its position in shares of ONEOK by 5.0% in the 3rd quarter. Tower Bridge Advisors now owns 81,528 shares of the utilities provider’s stock worth $7,430,000 after buying an additional 3,895 shares during the last quarter. GoalVest Advisory LLC raised its stake in shares of ONEOK by 3.4% in the third quarter. GoalVest Advisory LLC now owns 17,661 shares of the utilities provider’s stock worth $1,609,000 after purchasing an additional 574 shares during the last quarter. Sage Advisors LLC raised its stake in shares of ONEOK by 13.2% in the third quarter. Sage Advisors LLC now owns 57,017 shares of the utilities provider’s stock worth $5,196,000 after purchasing an additional 6,654 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of ONEOK by 5.1% in the third quarter. Natixis Advisors LLC now owns 446,661 shares of the utilities provider’s stock worth $40,704,000 after purchasing an additional 21,704 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of ONEOK by 130.3% in the third quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock worth $9,445,000 after purchasing an additional 58,649 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity at ONEOK

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

ONEOK Trading Up 1.8 %

Shares of ONEOK stock opened at $109.81 on Monday. 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 stock has a market capitalization of $64.15 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. ONEOK, Inc. has a 12-month low of $64.68 and a 12-month high of $110.05. The company has a 50-day simple moving average of $96.54 and a 200 day simple moving average of $87.72.

ONEOK (NYSE:OKE) last posted its quarterly 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.15 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. Stockholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

Several analysts recently commented on OKE shares. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Barclays upped their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial boosted 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, Royal Bank of Canada upped 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. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

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.