F M Investments LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

F M Investments LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,388 shares of the utilities provider’s stock, valued at approximately $1,500,000.

A number of other institutional investors also recently modified their holdings of OKE. Rise Advisors LLC bought a new position in shares of ONEOK in the first quarter worth about $25,000. LifeSteps Financial Inc. bought a new position in ONEOK in the 1st quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in ONEOK in the second quarter valued at approximately $31,000. American National Bank acquired a new position in shares of ONEOK during the first quarter worth $32,000. Finally, Security National Bank bought a new position in shares of ONEOK in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 2.5 %

Shares of ONEOK stock opened at $92.37 on Friday. The stock’s 50-day moving average is $83.91 and its 200 day moving average is $80.25. ONEOK, Inc. has a one year low of $60.58 and a one year high of $92.61. The firm has a market cap of $53.91 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 4.42 and a beta of 1.65. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the prior year, the business earned $1.04 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.29%. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OKE shares. Truist Financial boosted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Scotiabank upped their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Morgan Stanley upped their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Finally, Mizuho boosted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.46.

About ONEOK

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.