United Community Bank Sells 290 Shares of ONEOK, Inc. (NYSE:OKE)

United Community Bank trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,095 shares of the utilities provider’s stock after selling 290 shares during the quarter. United Community Bank’s holdings in ONEOK were worth $311,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in ONEOK by 6.5% during the 3rd quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock worth $541,000 after acquiring an additional 364 shares during the period. Graypoint LLC grew its holdings in ONEOK by 15.3% during the 3rd quarter. Graypoint LLC now owns 6,433 shares of the utilities provider’s stock valued at $586,000 after purchasing an additional 853 shares during the last quarter. Principal Financial Group Inc. increased its stake in ONEOK by 3.5% in the third quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock worth $64,731,000 after purchasing an additional 24,193 shares during the period. Equitable Trust Co. bought a new stake in ONEOK during the 3rd quarter valued at about $458,000. Finally, SpiderRock Advisors LLC grew its stake in ONEOK by 1.8% in the third quarter. SpiderRock Advisors LLC now owns 8,093 shares of the utilities provider’s stock worth $738,000 after purchasing an additional 147 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $89.59 on Friday. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The company’s 50-day moving average is $100.00 and its two-hundred day moving average is $99.37. The firm has a market cap of $55.93 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.60%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.31.

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.