Hendershot Investments Inc. Sells 1,333 Shares of ONEOK, Inc. (NYSE:OKE)

Hendershot Investments Inc. reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 11.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,369 shares of the utilities provider’s stock after selling 1,333 shares during the quarter. Hendershot Investments Inc.’s holdings in ONEOK were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Northern Trust Corp grew its stake in shares of ONEOK by 1.5% during the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after acquiring an additional 85,736 shares in the last quarter. Norges Bank bought a new position in shares of ONEOK during the 4th quarter worth approximately $297,948,000. Kayne Anderson Capital Advisors LP grew its stake in shares of ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of ONEOK by 12.3% during the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after acquiring an additional 378,509 shares in the last quarter. Finally, Energy Income Partners LLC grew its stake in shares of ONEOK by 10.3% during the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after acquiring an additional 319,487 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 0.5 %

OKE opened at $91.81 on Friday. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market capitalization of $53.62 billion, a P/E ratio of 21.35, a P/E/G ratio of 3.66 and a beta of 1.67. The stock has a fifty day moving average of $85.06 and a 200-day moving average of $81.00.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping 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 company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the firm earned $1.04 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.05 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Analyst Ratings Changes

OKE has been the subject of several analyst reports. Truist Financial raised their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Mizuho raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Citigroup raised their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus target price 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.