Los Angeles Capital Management LLC Increases Position in ONEOK, Inc. (NYSE:OKE)

by · The Cerbat Gem

Los Angeles Capital Management LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 34.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,258 shares of the utilities provider’s stock after buying an additional 9,497 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ONEOK were worth $3,395,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OKE. Quest Partners LLC bought a new position in shares of ONEOK in the second quarter worth about $28,000. Matrix Trust Co purchased a new stake in ONEOK during the 3rd quarter valued at approximately $29,000. Ridgewood Investments LLC bought a new position in shares of ONEOK during the second quarter worth $31,000. Values First Advisors Inc. purchased a new position in ONEOK during the third quarter valued at $44,000. Finally, Fortitude Family Office LLC increased its holdings in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 1.1 %

Shares of NYSE OKE opened at $107.81 on Wednesday. The company has a market cap of $62.98 billion, a P/E ratio of 22.55, a PEG ratio of 5.35 and a beta of 1.66. The firm has a 50-day simple moving average of $95.19 and a two-hundred day simple moving average of $86.90. ONEOK, Inc. has a 1 year low of $63.77 and a 1 year high of $109.21. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Royal Bank of Canada boosted their price target 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. Finally, Scotiabank lifted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.92.

Read Our Latest Stock Report on ONEOK

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

About ONEOK

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE – Free Report).