Blackston Financial Advisory Group LLC Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

Blackston Financial Advisory Group LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 12.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,697 shares of the utilities provider’s stock after selling 660 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in ONEOK were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Matrix Trust Co acquired a new stake in ONEOK during the 3rd quarter valued at approximately $29,000. Quest Partners LLC purchased a new position in shares of ONEOK during the second quarter worth $28,000. Ridgewood Investments LLC acquired a new position in ONEOK during the second quarter valued at $31,000. Manchester Capital Management LLC boosted its holdings in ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in ONEOK during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.7 %

OKE stock opened at $97.45 on Friday. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $98.43. The business’s 50-day moving average is $92.46 and its 200 day moving average is $85.04. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock has a market cap of $56.92 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 4.31 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm 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 period in the previous year, the business earned $1.04 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Announces Dividend

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 given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.06%. ONEOK’s payout ratio is presently 86.27%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Truist Financial upped their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

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.