Balentine LLC Buys Shares of 3,641 ONEOK, Inc. (NYSE:OKE)

Balentine LLC bought a new position in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,641 shares of the utilities provider’s stock, valued at approximately $332,000.

Several other hedge funds have also modified their holdings of the company. Quest Partners LLC purchased a new stake in ONEOK during the second quarter valued at approximately $28,000. Matrix Trust Co acquired a new stake in shares of ONEOK in the 3rd quarter worth $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the 2nd quarter worth $31,000. Manchester Capital Management LLC increased its position in ONEOK by 66.4% during the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in ONEOK in the third quarter valued at about $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $98.61 on Wednesday. The stock has a market capitalization of $57.61 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.66. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.65. 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’s 50-day moving average price is $94.01 and its 200-day moving average price is $86.20.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the firm earned $0.99 earnings per share. As a group, equities analysts expect that ONEOK, Inc. will post 5.16 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed 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. This represents a $3.96 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OKE has been the topic of a number of research analyst reports. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Truist Financial raised their target price on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $96.92.

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.