Sheaff Brock Investment Advisors LLC Sells 706 Shares of ONEOK, Inc. (NYSE:OKE)

Sheaff Brock Investment Advisors LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,721 shares of the utilities provider’s stock after selling 706 shares during the quarter. ONEOK comprises approximately 0.8% of Sheaff Brock Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in ONEOK were worth $9,543,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its position in shares of ONEOK by 21.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 844 shares during the period. QRG Capital Management Inc. increased its holdings in shares of ONEOK by 3.8% during the first quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 198 shares during the period. Entropy Technologies LP acquired a new stake in shares of ONEOK in the first quarter valued at approximately $557,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of ONEOK by 28.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock valued at $5,059,000 after buying an additional 14,058 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in ONEOK by 2.7% during the first quarter. Kingsview Wealth Management LLC now owns 15,166 shares of the utilities provider’s stock worth $1,216,000 after buying an additional 396 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OKE. Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Barclays boosted their target price 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. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $96.92.

Insider Buying and Selling 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 shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Price Performance

Shares of NYSE OKE opened at $107.88 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $63.02 billion, a PE ratio of 22.57, a PEG ratio of 5.40 and a beta of 1.66. The stock’s 50 day moving average price is $95.84 and its 200-day moving average price is $87.24. ONEOK, Inc. has a twelve month low of $64.68 and a twelve month high of $109.21.

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

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.67%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

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.