Alan B Lancz & Associates Inc. Sells 1,200 Shares of ONEOK, Inc. (NYSE:OKE)

Alan B Lancz & Associates Inc. lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,562 shares of the utilities provider’s stock after selling 1,200 shares during the period. Alan B Lancz & Associates Inc.’s holdings in ONEOK were worth $659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in OKE. International Assets Investment Management LLC boosted its stake in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK during the 3rd quarter worth $47,957,000. Yaupon Capital Management LP bought a new position in shares of ONEOK in the third quarter worth $45,194,000. Finally, National Bank of Canada FI raised its stake in ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on OKE. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Finally, Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Stock Down 0.5 %

NYSE:OKE opened at $104.42 on Friday. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $61.00 billion, a PE ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70. The firm’s 50 day simple moving average is $106.00 and its 200 day simple moving average is $96.50.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the firm posted $0.99 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.