Catalyst Financial Partners LLC Acquires New Holdings in ONEOK, Inc. (NYSE:OKE)

by · The Markets Daily

Catalyst Financial Partners LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,020 shares of the utilities provider’s stock, valued at approximately $328,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its holdings in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 119 shares during the period. Sheets Smith Wealth Management increased its position in ONEOK by 0.3% during 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 period. Venturi Wealth Management LLC raised its holdings in ONEOK by 5.3% during the 1st quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock worth $225,000 after purchasing an additional 142 shares during the last quarter. Monarch Capital Management Inc. raised its holdings 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. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of ONEOK by 4.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 144 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 0.4 %

OKE traded up $0.37 during trading on Monday, hitting $88.44. 735,982 shares of the company’s stock were exchanged, compared to its average volume of 2,746,281. The stock has a market cap of $51.62 billion, a P/E ratio of 20.48, a PEG ratio of 4.42 and a beta of 1.65. The business’s 50 day moving average is $83.21 and its two-hundred day moving average is $79.85. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $89.28. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE – Get Free Report) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the business posted $1.04 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.48%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OKE shares. Truist Financial increased their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Morgan Stanley boosted their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average price target of $86.58.

Get Our Latest Stock Report on ONEOK

ONEOK Profile

(Free Report)

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.

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