ONEOK, Inc. (NYSE:OKE) Shares Sold by Donaldson Capital Management LLC

Donaldson Capital Management LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 23.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,613 shares of the utilities provider’s stock after selling 5,253 shares during the quarter. Donaldson Capital Management LLC’s holdings in ONEOK were worth $1,768,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in shares of ONEOK by 6.5% during the 3rd quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock worth $541,000 after acquiring an additional 364 shares during the period. Equitable Trust Co. purchased a new position in shares of ONEOK during the 3rd quarter worth about $458,000. SpiderRock Advisors LLC lifted its holdings in shares of ONEOK by 1.8% during the 3rd quarter. SpiderRock Advisors LLC now owns 8,093 shares of the utilities provider’s stock worth $738,000 after acquiring an additional 147 shares during the period. Atria Investments Inc lifted its holdings in shares of ONEOK by 76.9% during the 3rd quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider’s stock worth $2,147,000 after acquiring an additional 10,240 shares during the period. Finally, Sigma Planning Corp lifted its holdings in shares of ONEOK by 2.8% during the 3rd quarter. Sigma Planning Corp now owns 13,095 shares of the utilities provider’s stock worth $1,193,000 after acquiring an additional 352 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 2.1 %

Shares of NYSE:OKE opened at $91.46 on Tuesday. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. 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 $57.10 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a 50 day moving average of $99.81 and a two-hundred day moving average of $99.49.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.50%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Scotiabank cut their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

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.