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

PFG Investments LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,276 shares of the utilities provider’s stock after selling 384 shares during the quarter. PFG Investments LLC’s holdings in ONEOK were worth $936,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new stake in ONEOK during the second quarter valued at $28,000. Matrix Trust Co bought a new stake in shares of ONEOK during the 3rd quarter valued at about $29,000. Ridgewood Investments LLC acquired a new stake in ONEOK during the second quarter worth about $31,000. Manchester Capital Management LLC lifted its holdings in ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in ONEOK in the third quarter valued at approximately $44,000. 69.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

ONEOK Trading Down 0.8 %

Shares of NYSE:OKE opened at $96.66 on Monday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a 50-day simple moving average of $92.85 and a 200 day simple moving average of $85.33. The company has a market capitalization of $56.42 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analysts Set New Price Targets

OKE has been the topic of a number of research reports. Wells Fargo & Company increased their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Truist Financial lifted their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Mizuho boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Scotiabank increased their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

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.