PFG Investments LLC Reduces Holdings in ONEOK, Inc. (NYSE:OKE)

PFG Investments LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,872 shares of the utilities provider’s stock after selling 404 shares during the period. PFG Investments LLC’s holdings in ONEOK were worth $991,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter worth approximately $29,000. Kieckhefer Group LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC acquired a new stake in ONEOK during the third quarter worth approximately $37,000. Values First Advisors Inc. acquired a new stake in ONEOK during the third quarter worth approximately $44,000. Finally, Fortitude Family Office LLC boosted its position in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $100.50 on Wednesday. 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 has a market capitalization of $58.71 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 4.03 and a beta of 1.70. The firm’s fifty day simple moving average is $105.76 and its 200 day simple moving average is $96.82. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.10%. ONEOK’s payout ratio is presently 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of analyst reports. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada raised their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Barclays raised their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Profile

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.