Ameritas Advisory Services LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Ameritas Advisory Services LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 0.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 42,597 shares of the utilities provider’s stock after buying an additional 140 shares during the quarter. Ameritas Advisory Services LLC’s holdings in ONEOK were worth $3,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in ONEOK during the first quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in ONEOK during the second quarter worth about $31,000. HHM Wealth Advisors LLC purchased a new position in ONEOK in the fourth quarter valued at about $32,000. Finally, American National Bank acquired a new stake in shares of ONEOK in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 2.2 %

ONEOK stock traded up $1.96 during mid-day trading on Thursday, hitting $90.17. The company’s stock had a trading volume of 4,178,555 shares, compared to its average volume of 2,743,613. The firm’s 50 day moving average is $83.73 and its 200 day moving average is $80.18. The company has a market cap of $52.63 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 4.42 and a beta of 1.65. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $90.66.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the business earned $1.04 EPS. On average, analysts anticipate that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.39%. ONEOK’s dividend payout ratio is currently 92.09%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research reports. Truist Financial lifted their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Morgan Stanley boosted their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Royal Bank of Canada raised their price target on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ONEOK has an average rating of “Hold” and a consensus target price of $86.58.

ONEOK Profile

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.