Kovack Advisors Inc. Has $610,000 Stake in ONEOK, Inc. (NYSE:OKE)

Kovack Advisors Inc. grew its stake in ONEOK, Inc. (NYSE:OKE) by 18.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,695 shares of the utilities provider’s stock after purchasing an additional 1,024 shares during the quarter. Kovack Advisors Inc.’s holdings in ONEOK were worth $610,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its stake in shares of ONEOK by 21.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after buying an additional 844 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of ONEOK by 3.8% during the 1st quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 198 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of ONEOK during the 1st quarter worth $557,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in ONEOK by 28.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock valued at $5,059,000 after buying an additional 14,058 shares during the period. Finally, Kingsview Wealth Management LLC increased its holdings in ONEOK by 2.7% during the first quarter. Kingsview Wealth Management LLC now owns 15,166 shares of the utilities provider’s stock worth $1,216,000 after buying an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OKE shares. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Scotiabank upped their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

ONEOK Trading Down 0.3 %

NYSE OKE opened at $107.88 on Friday. The stock’s 50-day simple moving average is $95.84 and its two-hundred day simple moving average is $87.24. ONEOK, Inc. has a twelve month low of $64.68 and a twelve month high of $109.21. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $63.02 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 5.40 and a beta of 1.66.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business 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 quarter in the previous year, the firm posted $0.99 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

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.