Wedmont Private Capital trimmed its holdings in ONEOK, Inc. (NYSE:OKE – Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,941 shares of the utilities provider’s stock after selling 748 shares during the period. Wedmont Private Capital’s holdings in ONEOK were worth $1,418,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares during the period. Janus Henderson Group PLC grew its stake in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after acquiring an additional 132,326 shares during the period. Finally, International Assets Investment Management LLC lifted its position in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on OKE shares. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.54.
ONEOK Price Performance
ONEOK stock opened at $103.92 on Tuesday. The stock has a fifty day moving average of $105.80 and a 200-day moving average of $95.11. The stock has a market capitalization of $60.71 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. 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 $67.05 and a 52 week high of $118.07.
ONEOK (NYSE:OKE – Get Free Report) last issued its 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 company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business earned $0.99 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.
ONEOK Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is currently 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.
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