Entropy Technologies LP Decreases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Entropy Technologies LP trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 79.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,489 shares of the utilities provider’s stock after selling 28,235 shares during the quarter. Entropy Technologies LP’s holdings in ONEOK were worth $682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OKE. Quest Partners LLC purchased a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Matrix Trust Co bought a new position in ONEOK during the third quarter valued at $29,000. Ridgewood Investments LLC bought a new position in ONEOK during the second quarter valued at $31,000. Access Investment Management LLC bought a new position in ONEOK during the third quarter valued at $37,000. Finally, Values First Advisors Inc. bought a new position in ONEOK during the third quarter valued at $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on OKE. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.92.

ONEOK Trading Down 0.3 %

Shares of OKE stock opened at $107.88 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $109.21. The company has a market capitalization of $63.02 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 5.38 and a beta of 1.66. The business’s fifty day moving average is $95.84 and its 200 day moving average is $87.24.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.67%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.