Landscape Capital Management L.L.C. Sells 8,198 Shares of ONEOK, Inc. (NYSE:OKE)

Landscape Capital Management L.L.C. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 47.3% in the third quarter, Holdings Channel reports. The fund owned 9,121 shares of the utilities provider’s stock after selling 8,198 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in ONEOK were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Quest Partners LLC purchased a new position in shares of ONEOK during the 2nd quarter valued at $28,000. Matrix Trust Co purchased a new stake in ONEOK during the third quarter valued at about $29,000. Ridgewood Investments LLC purchased a new stake in ONEOK during the second quarter valued at about $31,000. Access Investment Management LLC bought a new position in ONEOK during the third quarter worth about $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the third quarter worth about $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $117.04 on Friday. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market cap of $68.37 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 5.64 and a beta of 1.66. The firm’s fifty day moving average price is $98.87 and its 200-day moving average price is $88.86.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 firm 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 business earned $0.99 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.38%. ONEOK’s payout ratio is 82.85%.

Analyst Ratings Changes

A number of analysts recently commented on OKE shares. Citigroup upped their price target 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. Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted 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. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Finally, UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.38.

Insiders Place Their Bets

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

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.