ONEOK, Inc. (NYSE:OKE) Shares Sold by Cascade Investment Group Inc.

Cascade Investment Group Inc. decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,524 shares of the utilities provider’s stock after selling 266 shares during the quarter. Cascade Investment Group Inc.’s holdings in ONEOK were worth $450,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of OKE. Rise Advisors LLC acquired a new position in shares of ONEOK in the first quarter worth about $25,000. LifeSteps Financial Inc. acquired a new position in shares of ONEOK in the first quarter worth about $26,000. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK in the fourth quarter worth about $32,000. American National Bank acquired a new position in shares of ONEOK in the first quarter worth about $32,000. Finally, Security National Bank acquired a new position in shares of ONEOK in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock traded up $0.60 on Wednesday, reaching $86.34. 2,139,280 shares of the company were exchanged, compared to its average volume of 2,770,058. 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 company’s 50-day moving average is $81.91 and its two-hundred day moving average is $78.80. The firm has a market cap of $50.39 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.37 and a beta of 1.65. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $86.52.

ONEOK (NYSE:OKE) last posted its 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 return on equity of 15.94% and a net margin of 12.54%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the firm earned $1.04 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.02 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

Several research firms recently commented on OKE. Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus boosted their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Wells Fargo & Company boosted their price objective on ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Truist Financial boosted their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.50.

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.