Tocqueville Asset Management L.P. Sells 667 Shares of ONEOK, Inc. (NYSE:OKE)

Tocqueville Asset Management L.P. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,437 shares of the utilities provider’s stock after selling 667 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in ONEOK were worth $1,249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC raised its stake in shares of ONEOK by 5.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider’s stock valued at $762,000 after acquiring an additional 455 shares in the last quarter. Empowered Funds LLC grew its holdings in ONEOK by 8.8% during the third quarter. Empowered Funds LLC now owns 9,884 shares of the utilities provider’s stock valued at $901,000 after purchasing an additional 797 shares during the last quarter. Caprock Group LLC lifted its stake in shares of ONEOK by 267.5% in the third quarter. Caprock Group LLC now owns 35,101 shares of the utilities provider’s stock worth $3,199,000 after buying an additional 25,549 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of ONEOK by 222.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after buying an additional 11,160 shares during the period. Finally, Banque Cantonale Vaudoise grew its stake in ONEOK by 8.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 53,951 shares of the utilities provider’s stock valued at $4,916,000 after buying an additional 4,408 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKE. Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Truist Financial increased 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. Seven equities 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Performance

NYSE:OKE opened at $100.12 on Thursday. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The firm has a market capitalization of $62.51 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm has a 50-day moving average price of $99.03 and a 200 day moving average price of $99.75. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

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.