Oxbow Advisors LLC Has $967,000 Stake in ONEOK, Inc. (NYSE:OKE)

Oxbow Advisors LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,862 shares of the utilities provider’s stock after selling 421 shares during the quarter. Oxbow Advisors LLC’s holdings in ONEOK were worth $967,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of ONEOK during the 4th quarter valued at $297,948,000. First Eagle Investment Management LLC boosted its position in ONEOK by 77.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,086,559 shares of the utilities provider’s stock valued at $216,738,000 after purchasing an additional 1,351,626 shares during the last quarter. Wellington Management Group LLP grew its stake in ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. M&G Plc acquired a new position in ONEOK in the 1st quarter worth about $77,634,000. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKE shares. Morgan Stanley increased their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Mizuho increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased their target price on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Truist Financial boosted their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Hold” and a consensus price target of $89.92.

ONEOK Stock Performance

ONEOK stock traded down $0.75 during trading hours on Friday, hitting $91.06. The stock had a trading volume of 3,207,326 shares, compared to its average volume of 2,767,778. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The company has a market cap of $53.15 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 3.66 and a beta of 1.67. The company has a 50-day moving average of $85.25 and a two-hundred day moving average of $81.13. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period last year, the business earned $1.04 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.05 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.35%. ONEOK’s payout ratio is currently 92.09%.

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.