ONEOK, Inc. (NYSE:OKE) Shares Sold by SPC Financial Inc.

SPC Financial Inc. lowered its stake in ONEOK, Inc. (NYSE:OKE) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,561 shares of the utilities provider’s stock after selling 1,376 shares during the quarter. SPC Financial Inc.’s holdings in ONEOK were worth $2,694,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Wellington Management Group LLP boosted its stake in shares of ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares during the period. Kapitalo Investimentos Ltda purchased a new position in ONEOK in the fourth quarter valued at about $103,000. CWM LLC grew its stake in ONEOK by 1.8% during the 1st quarter. CWM LLC now owns 37,603 shares of the utilities provider’s stock valued at $3,015,000 after purchasing an additional 676 shares in the last quarter. GAMMA Investing LLC increased its holdings in ONEOK by 11.3% during the 1st quarter. GAMMA Investing LLC now owns 5,450 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 554 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of ONEOK in the 1st quarter valued at approximately $25,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OKE shares. Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial upped their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Barclays lifted their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.08.

ONEOK Trading Up 0.7 %

Shares of OKE stock opened at $95.65 on Thursday. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.01. The firm has a market capitalization of $55.83 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. The stock has a fifty day moving average of $91.32 and a two-hundred day moving average of $84.44. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last announced its 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. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.14%. ONEOK’s payout ratio is 92.09%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

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.