Pinnacle Financial Partners Inc Buys Shares of 2,354 ONEOK, Inc. (NYSE:OKE)

Pinnacle Financial Partners Inc purchased a new position in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,354 shares of the utilities provider’s stock, valued at approximately $215,000.

A number of other institutional investors also recently made changes to their positions in OKE. International Assets Investment Management LLC lifted its stake in shares of ONEOK by 9,439.9% in 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 acquiring an additional 3,197,121 shares during the period. Bahl & Gaynor Inc. lifted its stake in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares during the period. Cetera Investment Advisers lifted its stake in shares of ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after acquiring an additional 484,403 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of ONEOK by 3,137.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 392,644 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of ONEOK by 119.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock worth $53,657,000 after acquiring an additional 320,967 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial increased their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Stock Up 1.8 %

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

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

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

ONEOK Company 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.