Premier Fund Managers Ltd Buys 6,750 Shares of ONEOK, Inc. (NYSE:OKE)

Premier Fund Managers Ltd lifted its stake in ONEOK, Inc. (NYSE:OKE) by 11.1% in the third quarter, HoldingsChannel.com reports. The firm owned 67,750 shares of the utilities provider’s stock after purchasing an additional 6,750 shares during the quarter. Premier Fund Managers Ltd’s holdings in ONEOK were worth $6,113,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of ONEOK during the second quarter worth $28,000. Matrix Trust Co bought a new position in shares of ONEOK in the 3rd quarter valued at about $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $31,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. acquired a new position in ONEOK in the third quarter valued at approximately $44,000. Institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

ONEOK Price Performance

Shares of NYSE OKE opened at $113.10 on Wednesday. The company has a fifty day moving average price of $97.38 and a 200 day moving average price of $88.22. The firm has a market cap of $66.07 billion, a PE ratio of 23.66, a PEG ratio of 5.48 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $113.23.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the company earned $0.99 earnings per share. Research analysts predict 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 was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued 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 3.50%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OKE. Truist Financial lifted their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Citigroup raised 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. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Company 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.