Cerity Partners LLC Increases Position in ONEOK, Inc. (NYSE:OKE)

Cerity Partners LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 21.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 154,250 shares of the utilities provider’s stock after purchasing an additional 27,305 shares during the period. Cerity Partners LLC’s holdings in ONEOK were worth $14,057,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in ONEOK during the second quarter valued at $28,000. Matrix Trust Co purchased a new position in shares of ONEOK in the 3rd quarter worth about $29,000. Ridgewood Investments LLC bought a new position in ONEOK in the 2nd quarter worth about $31,000. Access Investment Management LLC purchased a new stake in ONEOK during the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK during the 3rd quarter valued at about $44,000. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 4.8 %

Shares of ONEOK stock opened at $111.46 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $65.11 billion, a PE ratio of 23.32, a P/E/G ratio of 5.84 and a beta of 1.66. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07. The company’s fifty day simple moving average is $99.23 and its 200-day simple moving average is $89.22.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm posted $0.99 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.55%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKE. Truist Financial increased their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays boosted their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America initiated 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.