ONEOK, Inc. (NYSE:OKE) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,528 shares of the utilities provider’s stock after selling 254 shares during the quarter. Harbour Investments Inc.’s holdings in ONEOK were worth $230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OKE. Quest Partners LLC acquired a new stake in ONEOK in the second quarter worth about $28,000. Matrix Trust Co bought a new stake in shares of ONEOK during the 3rd quarter worth about $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the 2nd quarter worth approximately $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter valued at approximately $37,000. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK during the third quarter valued at approximately $44,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKE. Barclays upped their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Truist Financial raised their price objective on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

ONEOK Stock Up 1.8 %

Shares of NYSE:OKE opened at $109.81 on Monday. The firm has a 50 day simple moving average of $96.54 and a 200 day simple moving average of $87.72. ONEOK, Inc. has a 52 week low of $64.68 and a 52 week high of $110.05. 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 company has a market cap of $64.15 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company earned $0.99 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. ONEOK’s dividend payout ratio is 82.85%.

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.