Nwam LLC Invests $224,000 in ONEOK, Inc. (NYSE:OKE)

Nwam LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,454 shares of the utilities provider’s stock, valued at approximately $224,000.

A number of other large investors have also bought and sold shares of the stock. Quest Partners LLC bought a new position in shares of ONEOK during the 2nd quarter worth about $28,000. Matrix Trust Co bought a new position in ONEOK in the third quarter worth approximately $29,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $31,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK during the third quarter worth approximately $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

OKE opened at $111.46 on Tuesday. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The firm has a 50-day moving average of $99.23 and a 200 day moving average of $89.22. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $65.11 billion, a P/E ratio of 23.32, a PEG ratio of 5.84 and a beta of 1.66.

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

ONEOK Dividend Announcement

The company also recently announced 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 dividend yield of 3.55%. ONEOK’s payout ratio is presently 82.85%.

Wall Street Analyst Weigh In

A number of analysts have commented on OKE shares. Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

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.