Invst LLC Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Invst LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,501 shares of the utilities provider’s stock after selling 245 shares during the quarter. Invst LLC’s holdings in ONEOK were worth $1,230,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Matrix Trust Co bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $29,000. Quest Partners LLC bought a new stake in ONEOK in the second quarter worth $28,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK in the second quarter worth $31,000. Access Investment Management LLC bought a new position in shares of ONEOK during the third quarter valued at $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter worth about $44,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.7 %

ONEOK stock opened at $104.34 on Wednesday. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The company has a market cap of $60.95 billion, a P/E ratio of 21.83, a P/E/G ratio of 5.49 and a beta of 1.69. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business has a 50-day simple moving average of $102.71 and a two-hundred day simple moving average of $91.26.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $5.81 billion. During the same quarter last year, the firm posted $0.99 earnings per share. Analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.80%. ONEOK’s dividend payout ratio is currently 82.85%.

Analysts Set New Price Targets

Several brokerages recently commented on OKE. Citigroup increased their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Barclays upped their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

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.