Prudent Man Advisors LLC Reduces Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Prudent Man Advisors LLC lowered its position in ONEOK, Inc. (NYSE:OKE) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,019 shares of the utilities provider’s stock after selling 289 shares during the quarter. Prudent Man Advisors LLC’s holdings in ONEOK were worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Pension Service boosted its holdings in shares of ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its holdings in ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after buying an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its position in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 3.8 %

Shares of ONEOK stock opened at $100.29 on Friday. ONEOK, Inc. has a fifty-two week low of $74.39 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $58.59 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 3.77 and a beta of 1.70. The stock has a 50 day moving average of $100.91 and a 200 day moving average of $99.10.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.11%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analyst Ratings Changes

OKE has been the topic of a number of recent research reports. Citigroup initiated coverage on ONEOK in a research report on Friday. They set a “buy” rating and a $110.00 price objective on the stock. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday. Barclays started coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.15.

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.