ONEOK, Inc. (NYSE:OKE) Shares Sold by CX Institutional

CX Institutional cut its stake in ONEOK, Inc. (NYSE:OKE) by 1.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 55,843 shares of the utilities provider’s stock after selling 740 shares during the period. CX Institutional’s holdings in ONEOK were worth $5,607,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Southland Equity Partners LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $340,000. Shilanski & Associates Inc. boosted its holdings in ONEOK by 17.8% in the fourth quarter. Shilanski & Associates Inc. now owns 15,439 shares of the utilities provider’s stock valued at $1,550,000 after acquiring an additional 2,333 shares during the last quarter. Brighton Jones LLC grew its position in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. New Century Financial Group LLC increased its stake in ONEOK by 3.7% during the fourth quarter. New Century Financial Group LLC now owns 3,142 shares of the utilities provider’s stock worth $323,000 after acquiring an additional 113 shares during the last quarter. Finally, Veracity Capital LLC lifted its stake in shares of ONEOK by 0.7% in the 4th quarter. Veracity Capital LLC now owns 27,959 shares of the utilities provider’s stock valued at $2,807,000 after purchasing an additional 195 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.3 %

Shares of ONEOK stock opened at $105.23 on Friday. The business has a 50-day moving average price of $106.17 and a 200 day moving average price of $96.28. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The firm has a market cap of $61.47 billion, a P/E ratio of 22.05, a P/E/G ratio of 4.03 and a beta of 1.70. 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 issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm posted $0.99 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank of Canada increased their target price 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. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial increased their target price on 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 and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK 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.