HighTower Advisors LLC Acquires 14,910 Shares of ONEOK, Inc. (NYSE:OKE)

HighTower Advisors LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 406,984 shares of the utilities provider’s stock after acquiring an additional 14,910 shares during the period. HighTower Advisors LLC owned about 0.07% of ONEOK worth $37,080,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new position in shares of ONEOK in the second quarter worth approximately $28,000. Matrix Trust Co bought a new position in shares of ONEOK in the third quarter worth approximately $29,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter worth approximately $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK in the third quarter worth approximately $44,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank lifted their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Finally, US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Seven 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, the company presently has an average rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Price Performance

Shares of NYSE:OKE opened at $108.74 on Thursday. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The business has a 50-day simple moving average of $101.64 and a two-hundred day simple moving average of $90.65. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $63.52 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 5.59 and a beta of 1.69.

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 analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.08 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.64%. ONEOK’s dividend payout ratio is currently 82.85%.

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.