Larson Financial Group LLC Buys 1,131 Shares of ONEOK, Inc. (NYSE:OKE)

Larson Financial Group LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 30,049 shares of the utilities provider’s stock after purchasing an additional 1,131 shares during the period. Larson Financial Group LLC’s holdings in ONEOK were worth $2,738,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. HM Payson & Co. grew its holdings in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the period. Claro Advisors LLC lifted its position in shares of ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after acquiring an additional 115 shares in the last quarter. Haverford Trust Co lifted its position in shares of ONEOK by 1.2% during the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 117 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its position in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after acquiring an additional 122 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on OKE shares. Wells Fargo & Company increased their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Barclays increased their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Stock Up 0.3 %

Shares of NYSE:OKE opened at $117.05 on Monday. The stock’s 50-day moving average price is $98.87 and its 200-day moving average price is $89.00. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07. The stock has a market capitalization of $68.38 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 5.84 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business 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 period in the previous year, the business earned $0.99 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.38%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

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.