Arvest Bank Trust Division Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Arvest Bank Trust Division bought a new stake in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 28,975 shares of the utilities provider’s stock, valued at approximately $2,640,000.

Other large investors have also modified their holdings of the company. World Investment Advisors LLC raised its holdings in shares of ONEOK by 154.1% during the third quarter. World Investment Advisors LLC now owns 10,522 shares of the utilities provider’s stock valued at $959,000 after buying an additional 6,381 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of ONEOK by 11.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,377 shares of the utilities provider’s stock worth $11,061,000 after purchasing an additional 12,471 shares in the last quarter. Fulcrum Equity Management grew its position in ONEOK by 1.1% in the third quarter. Fulcrum Equity Management now owns 46,681 shares of the utilities provider’s stock worth $4,254,000 after buying an additional 526 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of ONEOK during the 3rd quarter valued at $2,258,000. Finally, Sunbelt Securities Inc. raised its position in shares of ONEOK by 42.2% during the third quarter. Sunbelt Securities Inc. now owns 10,875 shares of the utilities provider’s stock worth $991,000 after purchasing an additional 3,226 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKE shares. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Citigroup upped their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada boosted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Stock Up 0.0 %

OKE opened at $104.36 on Thursday. ONEOK, Inc. has a twelve month low of $65.49 and a twelve month high of $118.07. 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 business has a 50 day moving average price of $103.17 and a 200 day moving average price of $91.52. The firm has a market cap of $60.97 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 5.49 and a beta of 1.69.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 firm had revenue of $5.02 billion for 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 prior year, the company posted $0.99 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.79%. 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.