Old Port Advisors Sells 274 Shares of ONEOK, Inc. (NYSE:OKE)

Old Port Advisors lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,952 shares of the utilities provider’s stock after selling 274 shares during the period. Old Port Advisors’ holdings in ONEOK were worth $1,300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. HM Payson & Co. lifted its stake in ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after buying an additional 105 shares during the period. Claro Advisors LLC lifted 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 valued at $650,000 after acquiring an additional 115 shares during the period. Haverford Trust Co lifted 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 valued at $917,000 after acquiring an additional 117 shares during the period. Johnson Investment Counsel Inc. boosted its stake 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 acquiring an additional 122 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OKE shares. Barclays increased their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $101.00.

ONEOK Stock Up 1.4 %

ONEOK stock traded up $1.39 during mid-day trading on Thursday, reaching $101.79. The stock had a trading volume of 504,215 shares, compared to its average volume of 2,817,240. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The company has a 50-day moving average price of $104.78 and a two-hundred day moving average price of $93.78. The company has a market capitalization of $59.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 5.24 and a beta of 1.69. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the business earned $0.99 EPS. On average, analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

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.