Navellier & Associates Inc. Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Navellier & Associates Inc. lessened its stake in ONEOK, Inc. (NYSE:OKE) by 17.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,026 shares of the utilities provider’s stock after selling 1,473 shares during the quarter. Navellier & Associates Inc.’s holdings in ONEOK were worth $640,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. HM Payson & Co. raised its position in shares of ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 105 shares in the last quarter. Claro Advisors LLC raised its position in shares of ONEOK by 1.6% during the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after acquiring an additional 115 shares in the last quarter. Haverford Trust Co raised its position in shares of ONEOK by 1.2% during the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 117 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several research analyst reports. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Truist Financial lifted their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Scotiabank lifted their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Transactions at ONEOK

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

ONEOK Stock Up 3.1 %

OKE opened at $116.65 on Friday. The business’s fifty day moving average is $98.36 and its two-hundred day moving average is $88.59. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market cap of $68.14 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 5.64 and a beta of 1.66. ONEOK, Inc. has a one year low of $65.49 and a one year high of $117.24.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.39%. ONEOK’s dividend payout ratio (DPR) is 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.