RFG Advisory LLC Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

RFG Advisory LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 11.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,166 shares of the utilities provider’s stock after acquiring an additional 3,314 shares during the period. RFG Advisory LLC’s holdings in ONEOK were worth $2,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OKE. Perkins Coie Trust Co purchased a new position in shares of ONEOK during the second quarter worth $82,000. Czech National Bank raised its holdings in shares of ONEOK by 8.5% during the second quarter. Czech National Bank now owns 111,219 shares of the utilities provider’s stock worth $9,070,000 after purchasing an additional 8,719 shares during the last quarter. Seneca House Advisors increased its holdings in ONEOK by 4.2% in the second quarter. Seneca House Advisors now owns 79,148 shares of the utilities provider’s stock valued at $6,455,000 after buying an additional 3,209 shares in the last quarter. Retirement Planning Group LLC purchased a new position in ONEOK in the second quarter valued at $906,000. Finally, Allied Investment Advisors LLC purchased a new position in ONEOK in the second quarter valued at $217,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.1 %

Shares of NYSE:OKE traded down $0.07 during trading hours on Monday, reaching $84.93. The stock had a trading volume of 1,076,547 shares, compared to its average volume of 2,769,004. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $86.20. The firm’s 50 day moving average is $81.67 and its 200-day moving average is $78.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a market capitalization of $49.57 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 4.37 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the firm posted $1.04 EPS. Research analysts predict that ONEOK, Inc. will post 5.02 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Truist Financial boosted their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and an average target price of $85.50.

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.