Frank Rimerman Advisors LLC Has $1.42 Million Holdings in ONEOK, Inc. (NYSE:OKE)

28 Oct 2024, 11:42 by Danessa Lincoln · The Markets Daily

Frank Rimerman Advisors LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 50.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,546 shares of the utilities provider’s stock after buying an additional 5,239 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in ONEOK were worth $1,417,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. SteelPeak Wealth LLC boosted its holdings in ONEOK by 140.5% in the 1st quarter. SteelPeak Wealth LLC now owns 10,783 shares of the utilities provider’s stock valued at $864,000 after purchasing an additional 6,299 shares during the period. Chapin Davis Inc. acquired a new position in ONEOK in the first quarter worth $253,000. Diversified Trust Co grew its holdings in ONEOK by 8.7% during the 1st quarter. Diversified Trust Co now owns 4,019 shares of the utilities provider’s stock worth $322,000 after acquiring an additional 323 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of ONEOK during the first quarter valued at approximately $398,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of ONEOK by 464.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock valued at $15,875,000 after buying an additional 162,963 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE opened at $96.66 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a market cap of $56.42 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 4.31 and a beta of 1.67. The stock’s fifty day moving average price is $92.85 and its two-hundred day moving average price is $85.33. ONEOK, Inc. has a one year low of $63.33 and a one year high of $98.43.

ONEOK (NYSE:OKE – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the previous year, the firm posted $1.04 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OKE shares. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Wells Fargo & Company lifted their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

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