ONEOK, Inc. (NYSE:OKE) Holdings Trimmed by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,452 shares of the utilities provider’s stock after selling 651 shares during the quarter. Hanson & Doremus Investment Management’s holdings in ONEOK were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in OKE. Matrix Trust Co acquired a new position in ONEOK in the third quarter worth approximately $29,000. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at $30,000. Access Investment Management LLC purchased a new position in ONEOK in the 3rd quarter worth about $37,000. Values First Advisors Inc. acquired a new stake in ONEOK during the 3rd quarter worth about $44,000. Finally, Fortitude Family Office LLC lifted its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $100.38 on Thursday. The firm has a market cap of $58.64 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The company’s fifty day moving average is $105.51 and its 200-day moving average is $96.93. 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, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $0.99 earnings per share. Equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.10%. The ex-dividend date is Monday, February 3rd. ONEOK’s payout ratio is 82.85%.

Analyst Ratings Changes

Several equities research analysts recently commented on OKE shares. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK 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.