ONEOK, Inc. (NYSE:OKE) Shares Sold by Invst LLC

Invst LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,746 shares of the utilities provider’s stock after selling 769 shares during the period. Invst LLC’s holdings in ONEOK were worth $1,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. grew its stake in 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 buying an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares during the last quarter. Brighton Jones LLC lifted its position in ONEOK by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after acquiring an additional 122 shares during the period. Capital Wealth Planning LLC increased its holdings in shares of ONEOK by 4.3% in the second quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 131 shares during the period. Finally, Aviso Wealth Management raised its stake in shares of ONEOK by 1.7% during the second quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock worth $637,000 after purchasing an additional 134 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

ONEOK stock opened at $90.24 on Monday. The firm has a market capitalization of $52.67 billion, a PE ratio of 20.99, a P/E/G ratio of 4.71 and a beta of 1.67. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $96.05. The firm’s 50-day simple moving average is $88.09 and its 200 day simple moving average is $83.04. 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 released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the business earned $1.04 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.39%. ONEOK’s dividend payout ratio is currently 92.09%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Scotiabank raised their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Truist Financial lifted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.38.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.