Belpointe Asset Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the second quarter, HoldingsChannel.com reports. The firm acquired 7,518 shares of the utilities provider’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in ONEOK by 11.9% in the 1st quarter. BlackRock Inc. now owns 33,352,781 shares of the utilities provider’s stock valued at $1,898,440,000 after buying an additional 3,549,791 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in ONEOK by 9.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 10,384,905 shares of the utilities provider’s stock worth $591,089,000 after purchasing an additional 888,500 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in ONEOK by 7.9% during the 1st quarter. Neuberger Berman Group LLC now owns 8,797,562 shares of the utilities provider’s stock worth $500,806,000 after purchasing an additional 641,764 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in ONEOK by 6,007.8% during the 1st quarter. Summit Trail Advisors LLC now owns 4,703,755 shares of the utilities provider’s stock worth $4,704,000 after purchasing an additional 4,626,743 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in ONEOK by 3.9% during the 1st quarter. Northern Trust Corp now owns 4,453,737 shares of the utilities provider’s stock worth $253,508,000 after purchasing an additional 167,006 shares during the last quarter. Institutional investors and hedge funds own 73.69% of the company’s stock.

OKE has been the subject of several analyst reports. Seaport Global Securities initiated coverage on shares of ONEOK in a report on Tuesday, April 17th. They set a “neutral” rating and a $60.00 price target for the company. Barclays lowered their price target on shares of ONEOK from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, April 17th. Deutsche Bank initiated coverage on shares of ONEOK in a report on Thursday, April 19th. They set a “hold” rating and a $62.00 price target for the company. Stifel Nicolaus raised their price target on shares of ONEOK from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, May 3rd. Finally, ValuEngine upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a report on Thursday, May 3rd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. ONEOK presently has a consensus rating of “Buy” and a consensus target price of $69.00.

In related news, Director Brian L. Derksen acquired 1,500 shares of ONEOK stock in a transaction dated Monday, August 6th. The stock was bought at an average price of $67.60 per share, with a total value of $101,400.00. Following the transaction, the director now directly owns 5,100 shares in the company, valued at approximately $344,760. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Shares of OKE stock opened at $68.90 on Friday. The company has a market cap of $28.06 billion, a PE ratio of 39.15, a P/E/G ratio of 2.65 and a beta of 1.02. ONEOK, Inc. has a 52 week low of $49.65 and a 52 week high of $71.99. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.56 and a quick ratio of 0.40.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.20 billion. ONEOK had a net margin of 6.07% and a return on equity of 14.70%. sell-side analysts expect that ONEOK, Inc. will post 2.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 14th. Stockholders of record on Monday, August 6th will be given a dividend of $0.825 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $3.30 annualized dividend and a dividend yield of 4.79%. ONEOK’s dividend payout ratio (DPR) is 187.50%.

ONEOK Profile

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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