Mainstay Capital Management LLC ADV Sells 2,878 Shares of ONEOK, Inc. (NYSE:OKE)

Mainstay Capital Management LLC ADV decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,684 shares of the utilities provider’s stock after selling 2,878 shares during the quarter. ONEOK makes up about 0.4% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 16th biggest holding. Mainstay Capital Management LLC ADV’s holdings in ONEOK were worth $2,523,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of ONEOK during the 3rd quarter worth approximately $29,000. Quest Partners LLC acquired a new stake in ONEOK in the second quarter valued at $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the 2nd quarter valued at about $31,000. Manchester Capital Management LLC increased its stake in shares of ONEOK by 66.4% during the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in shares of ONEOK in the 3rd quarter valued at about $44,000. Institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent analyst reports. Citigroup boosted their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial increased their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

ONEOK Stock Up 0.7 %

OKE stock opened at $97.45 on Friday. The company has a market cap of $56.92 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43. The business has a 50-day simple moving average of $92.46 and a 200 day simple moving average of $85.04.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm posted $1.04 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is presently 86.27%.

ONEOK Company 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.