ONEOK, Inc. (NYSE:OKE) Shares Sold by Leo Wealth LLC

Leo Wealth LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,774 shares of the utilities provider’s stock after selling 139 shares during the quarter. Leo Wealth LLC’s holdings in ONEOK were worth $253,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of ONEOK by 3.7% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 882,673 shares of the utilities provider’s stock valued at $80,438,000 after buying an additional 31,740 shares during the period. Eastern Bank acquired a new stake in ONEOK in the third quarter valued at $1,220,000. Signaturefd LLC boosted its position in shares of ONEOK by 8.1% during the 3rd quarter. Signaturefd LLC now owns 8,230 shares of the utilities provider’s stock worth $750,000 after purchasing an additional 620 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of ONEOK by 2,459.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 204,181 shares of the utilities provider’s stock valued at $18,607,000 after purchasing an additional 196,203 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of ONEOK by 26.2% in the third quarter. Foundations Investment Advisors LLC now owns 7,660 shares of the utilities provider’s stock valued at $698,000 after purchasing an additional 1,592 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OKE. Citigroup upped their target price 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. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Barclays upped their target price on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. Truist Financial increased their price objective 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. Finally, JPMorgan Chase & Co. increased their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Trading Up 0.6 %

Shares of OKE stock opened at $97.39 on Wednesday. The firm’s 50-day simple moving average is $92.25 and its 200-day simple moving average is $84.96. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.43. The firm has a market cap of $56.88 billion, a P/E ratio of 21.22, a PEG ratio of 4.20 and a beta of 1.67.

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, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the business earned $1.04 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.06 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.07%. ONEOK’s payout ratio is 86.27%.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

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.