Morningstar Investment Management LLC Decreases Position in ONEOK, Inc. (NYSE:OKE)

Morningstar Investment Management LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,008 shares of the utilities provider’s stock after selling 8,200 shares during the period. ONEOK accounts for approximately 0.6% of Morningstar Investment Management LLC’s portfolio, making the stock its 25th largest holding. Morningstar Investment Management LLC’s holdings in ONEOK were worth $5,383,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of ONEOK in the fourth quarter worth about $297,948,000. Wellington Management Group LLP grew its stake in ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after buying an additional 1,128,066 shares in the last quarter. M&G Plc bought a new stake in ONEOK during the 1st quarter valued at $77,634,000. Kayne Anderson Capital Advisors LP lifted its position in shares of ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of ONEOK by 36.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock worth $145,782,000 after acquiring an additional 552,824 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. 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. Royal Bank of Canada raised their price target on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, Morgan Stanley increased their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.92.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

ONEOK Trading Up 0.3 %

NYSE OKE opened at $90.50 on Friday. The firm has a market capitalization of $52.86 billion, a PE ratio of 21.05, a P/E/G ratio of 4.47 and a beta of 1.67. The stock’s 50 day moving average is $85.94 and its 200 day moving average is $81.64. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $93.00. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the company posted $1.04 EPS. Research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.38%. ONEOK’s payout ratio is presently 92.09%.

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.