ONEOK, Inc. (NYSE:OKE) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 17.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,026 shares of the utilities provider’s stock after selling 1,473 shares during the quarter. Navellier & Associates Inc.’s holdings in ONEOK were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its stake in ONEOK by 3.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares during the last quarter. Energy Income Partners LLC boosted its holdings in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after purchasing an additional 319,487 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after buying an additional 132,326 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Finally, abrdn plc raised its position in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after purchasing an additional 277,514 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE stock opened at $116.65 on Friday. The stock has a market capitalization of $68.14 billion, a P/E ratio of 24.40, a PEG ratio of 5.64 and a beta of 1.66. 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’s 50 day moving average is $98.36 and its 200 day moving average is $88.59. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $117.24.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 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 business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

OKE has been the subject of a number of research reports. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial increased 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, Scotiabank raised their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.