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

NorthRock Partners LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 43.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,357 shares of the utilities provider’s stock after selling 1,801 shares during the period. NorthRock Partners LLC’s holdings in ONEOK were worth $215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quest Partners LLC acquired a new stake in ONEOK in the 2nd quarter valued at $28,000. Matrix Trust Co purchased a new position in ONEOK during the third quarter valued at $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the second quarter valued at about $31,000. Manchester Capital Management LLC grew its position in shares of ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK during the third quarter worth about $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $102.20 on Thursday. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $103.12. The stock’s fifty day moving average is $94.29 and its two-hundred day moving average is $86.31. The company has a market capitalization of $59.70 billion, a P/E ratio of 21.38, a P/E/G ratio of 4.08 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the firm posted $0.99 earnings per share. Equities analysts expect that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.87%. ONEOK’s payout ratio is currently 82.85%.

Analysts Set New Price Targets

Several research firms recently issued reports on OKE. Barclays lifted their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial lifted their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Mizuho upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Scotiabank increased their target price 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Buying and Selling at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

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.