ONEOK, Inc. (NYSE:OKE) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 27.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 41,247 shares of the utilities provider’s stock after selling 15,528 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in ONEOK were worth $4,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FNY Investment Advisers LLC lifted its holdings in ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in shares of ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the period. Simon Quick Advisors LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $251,000. Rockefeller Capital Management L.P. increased its stake in shares of ONEOK by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after acquiring an additional 5,067 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after purchasing an additional 136,071 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OKE shares. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank dropped their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Barclays reduced their price objective 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. Finally, Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Trading Down 0.2 %

ONEOK stock opened at $98.47 on Monday. ONEOK, Inc. has a 52 week low of $76.23 and a 52 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 $61.48 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a 50 day moving average price of $98.32 and a 200 day moving average price of $100.24.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current 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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. This is a positive change 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 is 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.