Raymond James Financial Services Advisors Inc. Sells 5,981 Shares of ONEOK, Inc. (NYSE:OKE)

Raymond James Financial Services Advisors Inc. cut its position in ONEOK, Inc. (NYSE:OKE) by 0.8% in the second quarter, HoldingsChannel.com reports. The firm owned 731,525 shares of the utilities provider’s stock after selling 5,981 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in ONEOK were worth $59,656,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of ONEOK during the first quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new position in ONEOK during the 1st quarter valued at approximately $26,000. American National Bank purchased a new position in shares of ONEOK in the first quarter worth $32,000. HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $32,000. Finally, Manchester Capital Management LLC grew its holdings in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after buying an additional 182 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wells Fargo & Company lifted their price target on ONEOK from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Truist Financial increased their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.50.

ONEOK Price Performance

OKE traded up $0.94 during trading on Monday, hitting $88.40. The company’s stock had a trading volume of 2,074,462 shares, compared to its average volume of 2,782,229. The firm has a market capitalization of $51.63 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 4.36 and a beta of 1.65. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $88.68. The business’s fifty day simple moving average is $82.56 and its 200 day simple moving average is $79.31. The company has a current ratio of 0.62, a quick ratio of 0.41 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter last year, the company earned $1.04 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 4.98 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

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.