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

Larson Financial Group LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 3.9% during the third quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of ONEOK during the third quarter worth $29,000. Quest Partners LLC purchased a new stake in shares of ONEOK during the second quarter worth about $28,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK during the second quarter worth about $31,000. Access Investment Management LLC purchased a new stake in shares of ONEOK during the third quarter worth about $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter worth about $44,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research reports. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Truist Financial boosted their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Price Performance

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 company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market cap of $68.38 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 5.84 and a beta of 1.66.

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

ONEOK Dividend Announcement

The business 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 3.38%. ONEOK’s dividend payout ratio (DPR) is currently 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.