Toroso Investments LLC Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Toroso Investments LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,178 shares of the utilities provider’s stock after buying an additional 2,562 shares during the quarter. Toroso Investments LLC’s holdings in ONEOK were worth $1,727,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OKE. First Command Bank boosted its stake in shares of ONEOK by 401.0% in the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares during the period. Miller Wealth Advisors LLC acquired a new position in shares of ONEOK in the first quarter worth $29,000. WealthPLAN Partners LLC purchased a new stake in shares of ONEOK during the first quarter worth $29,000. Resurgent Financial Advisors LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at $29,000. Finally, Grove Bank & Trust boosted its holdings in ONEOK by 211.2% in the first quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Raymond James upped their target price on shares of ONEOK from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, August 14th. Truist Financial raised their price objective on shares of ONEOK from $66.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Wells Fargo & Company lowered their target price on shares of ONEOK from $75.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, August 11th. Finally, StockNews.com cut ONEOK from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.73.

ONEOK Stock Down 1.4 %

ONEOK stock opened at $67.54 on Friday. The company has a market capitalization of $30.24 billion, a P/E ratio of 12.46, a PEG ratio of 1.85 and a beta of 1.70. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.92 and a current ratio of 1.23. ONEOK, Inc. has a fifty-two week low of $50.50 and a fifty-two week high of $71.57. The stock has a 50-day simple moving average of $65.45 and a 200-day simple moving average of $63.32.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4.13 billion. ONEOK had a return on equity of 35.84% and a net margin of 12.68%. During the same quarter in the previous year, the business earned $0.92 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.63 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Tuesday, August 1st were issued a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend was Monday, July 31st. ONEOK’s dividend payout ratio is currently 70.48%.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen purchased 4,900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was purchased at an average cost of $59.59 per share, with a total value of $291,991.00. Following the completion of the acquisition, the director now directly owns 18,700 shares in the company, valued at $1,114,333. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Pierce Norton purchased 24,607 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The stock was purchased at an average cost of $60.96 per share, with a total value of $1,500,042.72. Following the completion of the acquisition, the chief executive officer now directly owns 42,017 shares of the company’s stock, valued at approximately $2,561,356.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian L. Derksen acquired 4,900 shares of the stock in a transaction on Wednesday, June 28th. The stock was acquired at an average cost of $59.59 per share, for a total transaction of $291,991.00. Following the acquisition, the director now directly owns 18,700 shares in the company, valued at approximately $1,114,333. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by insiders.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.