Strategic Advocates LLC Sells 638 Shares of ONEOK, Inc. (NYSE:OKE)

Strategic Advocates LLC lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 11.9% during the 4th quarter, HoldingsChannel reports. The fund owned 4,737 shares of the utilities provider’s stock after selling 638 shares during the period. Strategic Advocates LLC’s holdings in ONEOK were worth $476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sonora Investment Management Group LLC boosted its position in shares of ONEOK by 25.2% in the 4th quarter. Sonora Investment Management Group LLC now owns 13,063 shares of the utilities provider’s stock worth $1,312,000 after purchasing an additional 2,633 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in shares of ONEOK by 176.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 45,463 shares of the utilities provider’s stock valued at $4,571,000 after buying an additional 29,013 shares during the last quarter. Crews Bank & Trust purchased a new position in ONEOK in the 4th quarter worth approximately $372,000. OLD National Bancorp IN lifted its position in ONEOK by 3.6% in the 4th quarter. OLD National Bancorp IN now owns 4,059 shares of the utilities provider’s stock valued at $408,000 after acquiring an additional 142 shares in the last quarter. Finally, Busey Bank boosted its position in shares of ONEOK by 1.3% during the fourth quarter. Busey Bank now owns 15,307 shares of the utilities provider’s stock valued at $1,537,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $99.91 on Friday. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm’s fifty day moving average is $105.25 and its 200 day moving average is $96.95. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.81 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the business posted $0.99 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.12%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 86.19%.

Analysts Set New Price Targets

Several research analysts have issued reports on OKE shares. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada boosted 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. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $102.92.

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.