iSAM Funds UK Ltd Acquires Shares of 6,609 ONEOK, Inc. (NYSE:OKE)

iSAM Funds UK Ltd acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 6,609 shares of the utilities provider’s stock, valued at approximately $602,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI increased its holdings in shares of ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of ONEOK by 54.8% in the third quarter. EP Wealth Advisors LLC now owns 22,859 shares of the utilities provider’s stock valued at $2,083,000 after purchasing an additional 8,091 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of ONEOK by 110.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 196,701 shares of the utilities provider’s stock valued at $16,897,000 after purchasing an additional 103,382 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of ONEOK in the third quarter valued at $67,000. Finally, Voya Financial Advisors Inc. increased its holdings in shares of ONEOK by 32.5% in the third quarter. Voya Financial Advisors Inc. now owns 9,762 shares of the utilities provider’s stock valued at $881,000 after purchasing an additional 2,397 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 1.1 %

OKE stock opened at $108.94 on Friday. The stock has a market capitalization of $63.64 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 5.48 and a beta of 1.69. 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 12 month low of $65.49 and a 12 month high of $118.07. The firm has a 50-day moving average price of $102.06 and a 200-day moving average price of $90.78.

ONEOK (NYSE:OKE) last posted its earnings results 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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the company posted $0.99 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced 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 3.64%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKE. Royal Bank of Canada boosted their target price on shares of 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 boosted their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday. Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.00.

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.