Empower Advisory Group LLC Buys 536 Shares of ONEOK, Inc. (NYSE:OKE)

Empower Advisory Group LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 18.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,519 shares of the utilities provider’s stock after acquiring an additional 536 shares during the period. Empower Advisory Group LLC’s holdings in ONEOK were worth $321,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. lifted its stake in ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Energy Income Partners LLC lifted its stake in ONEOK by 10.3% during the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after acquiring an additional 319,487 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares during the period. International Assets Investment Management LLC raised its stake in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Finally, abrdn plc boosted its holdings in shares of ONEOK by 14.8% in the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after buying an additional 277,514 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Scotiabank upped 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Price Performance

Shares of ONEOK stock opened at $109.81 on Friday. The business has a 50 day moving average of $96.17 and a 200 day moving average of $87.38. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $64.15 billion, a PE ratio of 22.97, a P/E/G ratio of 5.40 and a beta of 1.66. ONEOK, Inc. has a 52 week low of $64.68 and a 52 week high of $110.05.

ONEOK (NYSE:OKE) 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). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company posted $0.99 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. ONEOK’s payout ratio is presently 82.85%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.