Eventide Asset Management LLC Purchases New Position in ONEOK, Inc. (NYSE:OKE)

Eventide Asset Management LLC bought a new position in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 128,039 shares of the utilities provider’s stock, valued at approximately $11,668,000.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC acquired a new position in ONEOK during the second quarter valued at approximately $28,000. Matrix Trust Co acquired a new position in shares of ONEOK in the third quarter valued at about $29,000. Ridgewood Investments LLC acquired a new stake in ONEOK during the second quarter worth about $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter worth about $37,000. Finally, Values First Advisors Inc. acquired a new stake in ONEOK during the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds 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 that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Stock Down 0.8 %

ONEOK stock opened at $112.59 on Friday. The company has a market capitalization of $65.77 billion, a P/E ratio of 23.55, a PEG ratio of 5.69 and a beta of 1.66. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The stock has a 50-day simple moving average of $100.35 and a 200-day simple moving average of $89.78. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) 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 analysts’ expectations of $5.81 billion. During the same period in the previous year, the company posted $0.99 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.08 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. ONEOK’s dividend payout ratio is presently 82.85%.

Analyst Ratings Changes

OKE has been the topic of several recent analyst reports. Scotiabank raised their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Royal Bank of Canada boosted 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. Wells Fargo & Company upped their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Truist Financial increased their target price on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.