ONEOK, Inc. (NYSE:OKE) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 57.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,104 shares of the utilities provider’s stock after selling 29,783 shares during the period. Sheets Smith Wealth Management’s holdings in ONEOK were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Atria Investments Inc boosted its position in shares of ONEOK by 76.9% in the third quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider’s stock worth $2,147,000 after buying an additional 10,240 shares during the period. Oxbow Advisors LLC boosted its holdings in ONEOK by 5.3% in the 3rd quarter. Oxbow Advisors LLC now owns 12,485 shares of the utilities provider’s stock worth $1,138,000 after acquiring an additional 623 shares during the period. Lindbrook Capital LLC boosted its holdings in ONEOK by 44.0% in the 3rd quarter. Lindbrook Capital LLC now owns 22,945 shares of the utilities provider’s stock worth $2,091,000 after acquiring an additional 7,015 shares during the period. SpiderRock Advisors LLC raised its stake in shares of ONEOK by 1.8% during the third quarter. SpiderRock Advisors LLC now owns 8,093 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 147 shares during the period. Finally, Equitable Trust Co. acquired a new position in shares of ONEOK during the third quarter worth $458,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OKE shares. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Truist Financial raised their price objective on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $96.92.

ONEOK Trading Up 2.9 %

NYSE OKE opened at $107.16 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $63.77 and a one year high of $107.19. The company has a 50-day simple moving average of $94.86 and a 200-day simple moving average of $86.63. The firm has a market capitalization of $62.60 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 5.10 and a beta of 1.66.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 annualized dividend and a dividend yield of 3.70%. ONEOK’s dividend payout ratio is currently 82.85%.

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.