Cetera Investment Advisers Buys 484,403 Shares of ONEOK, Inc. (NYSE:OKE)

Cetera Investment Advisers lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 370.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 615,276 shares of the utilities provider’s stock after acquiring an additional 484,403 shares during the quarter. Cetera Investment Advisers owned approximately 0.11% of ONEOK worth $49,327,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in ONEOK by 400.2% in the 4th quarter. Blue Trust Inc. now owns 2,166 shares of the utilities provider’s stock worth $152,000 after purchasing an additional 1,733 shares during the period. Fifth Third Bancorp boosted its stake in ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock worth $1,531,000 after purchasing an additional 3,032 shares during the period. Parsons Capital Management Inc. RI boosted its stake in ONEOK by 4.9% in the 4th quarter. Parsons Capital Management Inc. RI now owns 4,250 shares of the utilities provider’s stock worth $298,000 after purchasing an additional 200 shares during the period. Country Club Bank GFN bought a new position in ONEOK in the 4th quarter worth approximately $212,000. Finally, Pinnacle Financial Partners Inc bought a new position in ONEOK in the 4th quarter worth approximately $217,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Truist Financial increased their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday. Stifel Nicolaus increased their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Morgan Stanley increased their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.00.

ONEOK Stock Down 2.3 %

OKE stock traded down $1.89 during trading on Friday, reaching $80.17. 3,390,539 shares of the company traded hands, compared to its average volume of 2,238,059. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $86.20. The business has a 50 day simple moving average of $81.43 and a 200 day simple moving average of $78.00. The company has a market capitalization of $46.79 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business posted $2.34 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.02 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.