Prudential PLC Has $12.95 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Prudential PLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 102.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 158,849 shares of the utilities provider’s stock after purchasing an additional 80,516 shares during the period. Prudential PLC’s holdings in ONEOK were worth $12,954,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. Rise Advisors LLC acquired a new stake in shares of ONEOK in the first quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK during the 1st quarter valued at $26,000. Quest Partners LLC bought a new position in ONEOK during the second quarter worth $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK in the second quarter valued at $31,000. Finally, American National Bank bought a new position in shares of ONEOK in the first quarter valued at about $32,000. Institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $92.03 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $93.00. The business has a 50 day moving average of $85.45 and a 200-day moving average of $81.38. The company has a market capitalization of $53.75 billion, a P/E ratio of 21.40, a P/E/G ratio of 4.51 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the company posted $1.04 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Wall Street Analyst Weigh In

Several brokerages recently commented on OKE. Truist Financial lifted their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Scotiabank increased their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $89.92.

About ONEOK

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.