Tradition Wealth Management LLC Boosts Position in ONEOK, Inc. (NYSE:OKE)

Tradition Wealth Management LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,718 shares of the utilities provider’s stock after buying an additional 221 shares during the quarter. Tradition Wealth Management LLC’s holdings in ONEOK were worth $612,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OKE. Quest Partners LLC acquired a new position in ONEOK during the second quarter worth about $28,000. Matrix Trust Co acquired a new stake in ONEOK during the 3rd quarter valued at $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter worth $31,000. Access Investment Management LLC acquired a new position in shares of ONEOK in the third quarter worth $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter valued at $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.9 %

Shares of ONEOK stock opened at $113.60 on Monday. The company has a fifty day moving average price of $100.75 and a 200 day moving average price of $90.13. The stock has a market cap of $66.36 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 5.75 and a beta of 1.66. ONEOK, Inc. has a twelve month low of $65.49 and a twelve 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.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Truist Financial lifted their price objective on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

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.