ONEOK, Inc. (NYSE:OKE) Shares Sold by ORG Partners LLC

ORG Partners LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 20.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,588 shares of the utilities provider’s stock after selling 1,189 shares during the period. ORG Partners LLC’s holdings in ONEOK were worth $418,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OKE. Tortoise Capital Advisors L.L.C. lifted its position in shares of ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after purchasing an additional 378,509 shares during the period. Energy Income Partners LLC increased its stake in ONEOK by 10.3% in the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after purchasing an additional 319,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on OKE. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Truist Financial lifted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Mizuho increased their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $92.38.

ONEOK Stock Up 0.9 %

ONEOK stock opened at $97.50 on Tuesday. The company has a market capitalization of $56.91 billion, a P/E ratio of 22.67, a P/E/G ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.01. The firm’s fifty day simple moving average is $90.81 and its 200-day simple moving average is $84.26. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last announced its quarterly 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. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.06%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

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.