ONEOK, Inc. (NYSE:OKE) CEO Pierce Norton Purchases 8,975 Shares

ONEOK, Inc. (NYSE:OKEGet Rating) CEO Pierce Norton acquired 8,975 shares of ONEOK stock in a transaction on Friday, June 17th. The shares were purchased at an average price of $55.54 per share, for a total transaction of $498,471.50. Following the completion of the acquisition, the chief executive officer now directly owns 9,414 shares in the company, valued at $522,853.56. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of ONEOK stock traded up $2.51 during trading on Tuesday, reaching $55.90. The company’s stock had a trading volume of 131,852 shares, compared to its average volume of 2,774,992. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 2.13. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.74 and a beta of 1.75. ONEOK, Inc. has a 1-year low of $48.51 and a 1-year high of $75.07. The company has a 50-day simple moving average of $65.46 and a two-hundred day simple moving average of $64.20.

ONEOK (NYSE:OKEGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5 billion. ONEOK had a return on equity of 25.33% and a net margin of 8.01%. During the same period in the previous year, the business earned $0.86 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 3.88 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, May 2nd were given a dividend of $0.935 per share. The ex-dividend date was Friday, April 29th. This represents a $3.74 dividend on an annualized basis and a yield of 6.69%. ONEOK’s dividend payout ratio is currently 110.98%.

Several research analysts have commented on the company. Morgan Stanley raised their price objective on ONEOK from $70.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Wells Fargo & Company cut their price target on ONEOK to $71.00 and set an “equal weight” rating on the stock in a report on Friday, May 20th. Truist Financial lifted their price target on ONEOK from $72.00 to $78.00 in a report on Thursday, March 3rd. Raymond James lifted their price target on ONEOK from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Finally, US Capital Advisors reiterated an “overweight” rating on shares of ONEOK in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.08.

A number of institutional investors and hedge funds have recently modified their holdings of the business. PAX Financial Group LLC lifted its position in ONEOK by 1.3% during the 1st quarter. PAX Financial Group LLC now owns 13,622 shares of the utilities provider’s stock worth $962,000 after acquiring an additional 169 shares during the period. Coastline Trust Co lifted its position in ONEOK by 2.7% during the 1st quarter. Coastline Trust Co now owns 6,570 shares of the utilities provider’s stock worth $464,000 after acquiring an additional 175 shares during the period. Sugarloaf Wealth Management LLC lifted its position in ONEOK by 27.9% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 820 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 179 shares during the period. Donaldson Capital Management LLC lifted its holdings in shares of ONEOK by 0.9% in the 4th quarter. Donaldson Capital Management LLC now owns 20,918 shares of the utilities provider’s stock valued at $1,229,000 after buying an additional 184 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of ONEOK by 10.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,916 shares of the utilities provider’s stock valued at $135,000 after buying an additional 185 shares during the period. 65.46% of the stock is owned by institutional investors.

ONEOK Company Profile (Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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