ONEOK, Inc. (NYSE:OKE) Shares Purchased by First Foundation Advisors

First Foundation Advisors raised its stake in ONEOK, Inc. (NYSE:OKE) by 58.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,206 shares of the utilities provider’s stock after purchasing an additional 2,668 shares during the quarter. First Foundation Advisors’ holdings in ONEOK were worth $588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in ONEOK during the 2nd quarter valued at approximately $28,000. Varma Mutual Pension Insurance Co lifted its stake in shares of ONEOK by 6.5% in the 2nd quarter. Varma Mutual Pension Insurance Co now owns 213,762 shares of the utilities provider’s stock worth $17,432,000 after acquiring an additional 12,962 shares during the period. Ballentine Partners LLC boosted its stake in ONEOK by 3.9% during the second quarter. Ballentine Partners LLC now owns 4,387 shares of the utilities provider’s stock valued at $358,000 after buying an additional 163 shares in the last quarter. Caprock Group LLC lifted its stake in ONEOK by 4.4% during the second quarter. Caprock Group LLC now owns 9,552 shares of the utilities provider’s stock valued at $779,000 after purchasing an additional 405 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of ONEOK during the second quarter worth $1,768,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

ONEOK Stock Up 1.1 %

Shares of NYSE OKE opened at $92.03 on Tuesday. The firm has a market cap of $53.75 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.67. The company has a 50 day simple moving average of $85.45 and a 200 day simple moving average of $81.38. 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 1 year low of $60.58 and a 1 year high of $93.00.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter last year, the firm posted $1.04 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OKE shares. Royal Bank of Canada lifted their target price on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley upped 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. Scotiabank boosted their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Finally, Truist Financial increased their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.92.

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.