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

FORA Capital LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 92.8% during the first quarter, HoldingsChannel.com reports. The fund owned 6,472 shares of the utilities provider’s stock after selling 83,930 shares during the quarter. FORA Capital LLC’s holdings in ONEOK were worth $519,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in OKE. Rise Advisors LLC bought a new stake in ONEOK during the 1st quarter valued at $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK in the 1st quarter worth approximately $26,000. Beacon Capital Management LLC increased its position in ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 194 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK in the fourth quarter valued at $32,000. Finally, American National Bank acquired a new stake in ONEOK in the 1st quarter valued at $32,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of ONEOK stock traded up $0.56 on Tuesday, hitting $82.56. 317,153 shares of the company’s stock were exchanged, compared to its average volume of 2,785,209. The company has a 50-day simple moving average of $80.33 and a 200-day simple moving average of $76.45. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $83.31. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The stock has a market capitalization of $48.19 billion, a PE ratio of 19.06, a PEG ratio of 4.41 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the firm posted $2.34 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent analyst reports. Mizuho upped their price target on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Stifel Nicolaus increased their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Truist Financial increased their target price on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Finally, Morgan Stanley increased their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Company 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.