RKL Wealth Management LLC Purchases 865 Shares of ONEOK, Inc. (NYSE:OKE)

by · The Markets Daily

RKL Wealth Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE – Free Report) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,241 shares of the utilities provider’s stock after purchasing an additional 865 shares during the quarter. RKL Wealth Management LLC’s holdings in ONEOK were worth $1,115,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. National Pension Service grew its holdings in shares of ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Caxton Associates LP acquired a new position in ONEOK during the 2nd quarter worth about $1,225,000. Point72 Europe London LLP acquired a new position in ONEOK during the 2nd quarter worth about $15,008,000. Leavell Investment Management Inc. lifted its position in ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares in the last quarter. Finally, Sageworth Trust Co acquired a new position in ONEOK during the 3rd quarter worth about $568,000. Institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was 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 accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Trading Up 2.9 %

NYSE OKE opened at $107.16 on Friday. The company has a market cap of $62.60 billion, a PE ratio of 22.42, a PEG ratio of 5.10 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $63.77 and a 12 month high of $107.19. The stock has a 50 day moving average of $94.86 and a 200-day moving average of $86.63.

ONEOK (NYSE:OKE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $5.81 billion. During the same period in the prior year, the business earned $0.99 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OKE. Truist Financial upped their target price 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. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Royal Bank of Canada upped their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Scotiabank increased their target price on 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.92.

View Our Latest Analysis on OKE

ONEOK Profile

(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.

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