Commerzbank Aktiengesellschaft FI Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

Commerzbank Aktiengesellschaft FI acquired a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,421 shares of the utilities provider’s stock, valued at approximately $850,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in ONEOK during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK during the first quarter valued at approximately $26,000. HHM Wealth Advisors LLC purchased a new position in ONEOK in the 4th quarter worth approximately $32,000. American National Bank bought a new position in ONEOK in the 1st quarter valued at approximately $32,000. Finally, Security National Bank bought a new stake in shares of ONEOK in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OKE. Truist Financial lifted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their target price on shares of ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. One investment 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.com, ONEOK currently has an average rating of “Hold” and an average target price of $85.50.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.44 during mid-day trading on Wednesday, reaching $87.03. The stock had a trading volume of 1,806,902 shares, compared to its average volume of 2,768,450. The company has a market cap of $50.83 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 4.36 and a beta of 1.65. The business’s 50 day moving average price is $82.70 and its 200 day moving average price is $79.44. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $88.68.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations 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 company earned $1.04 EPS. Research analysts expect that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.55%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.