ONEOK, Inc. (NYSE:OKE) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.7% in the second quarter, HoldingsChannel reports. The firm owned 283,393 shares of the utilities provider’s stock after buying an additional 31,840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ONEOK were worth $23,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of OKE. QRG Capital Management Inc. lifted its holdings in shares of ONEOK by 2.2% in the 2nd 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 during the last quarter. Sheets Smith Wealth Management increased its position in shares of ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after purchasing an additional 139 shares during the last quarter. Ameritas Advisory Services LLC grew its position in shares of ONEOK by 0.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock valued at $3,474,000 after buying an additional 140 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of ONEOK by 5.3% in the 1st quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after buying an additional 142 shares during the last quarter. Finally, Monarch Capital Management Inc. grew its position in ONEOK by 0.9% during the 2nd quarter. Monarch Capital Management Inc. now owns 15,716 shares of the utilities provider’s stock worth $1,282,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price objective on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial raised their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $88.46.

ONEOK Stock Performance

OKE stock traded up $1.70 during midday trading on Friday, hitting $91.85. 1,458,898 shares of the company traded hands, compared to its average volume of 2,736,969. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $91.97. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business has a 50 day simple moving average of $83.73 and a 200-day simple moving average of $80.18. The stock has a market capitalization of $53.61 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.42 and a beta of 1.65.

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

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid 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 4.31%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.