WESPAC Advisors LLC Sells 10,452 Shares of ONEOK, Inc. (NYSE:OKE)

WESPAC Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 43.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,722 shares of the utilities provider’s stock after selling 10,452 shares during the period. WESPAC Advisors LLC’s holdings in ONEOK were worth $1,119,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OKE. Rise Advisors LLC bought a new stake in shares of ONEOK in the first quarter valued at about $25,000. LifeSteps Financial Inc. bought a new stake in ONEOK during the first quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in ONEOK during the second quarter worth about $31,000. American National Bank bought a new stake in ONEOK during the first quarter worth about $32,000. Finally, Security National Bank bought a new stake in ONEOK during the fourth quarter worth about $35,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKE. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Mizuho upped their price objective on 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 upped their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial upped their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $88.46.

ONEOK Price Performance

NYSE:OKE traded up $2.21 during trading hours on Friday, reaching $92.36. 4,921,721 shares of the company were exchanged, compared to its average volume of 2,757,578. The company has a market capitalization of $53.91 billion, a P/E ratio of 21.48, a P/E/G ratio of 4.42 and a beta of 1.65. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $92.61. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The business has a 50 day moving average of $83.91 and a 200 day moving average of $80.25.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company earned $1.04 earnings per share. Research analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

ONEOK Company 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.