ONEOK, Inc. (NYSE:OKE) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,950 shares of the utilities provider’s stock after selling 2,790 shares during the period. Amalgamated Bank’s holdings in ONEOK were worth $11,240,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OKE. Arkadios Wealth Advisors boosted its stake in shares of ONEOK by 18.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after acquiring an additional 525 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of ONEOK by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 67,866 shares of the utilities provider’s stock valued at $6,184,000 after purchasing an additional 4,380 shares during the last quarter. First Financial Bankshares Inc acquired a new position in shares of ONEOK in the 3rd quarter valued at $200,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in ONEOK by 3.2% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,974 shares of the utilities provider’s stock worth $544,000 after purchasing an additional 186 shares in the last quarter. Finally, abrdn plc raised its holdings in ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after buying an additional 277,514 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

NYSE OKE opened at $95.66 on Wednesday. The company has a 50 day moving average price of $100.97 and a two-hundred day moving average price of $99.04. ONEOK, Inc. has a 12-month low of $72.44 and a 12-month high of $118.07. The stock has a market capitalization of $55.88 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.31%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays initiated coverage on shares of ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $103.92.

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.