Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Position in ONEOK, Inc. (NYSE:OKE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,525 shares of the utilities provider’s stock after selling 390 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ONEOK were worth $246,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. QRG Capital Management Inc. grew its stake in ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in ONEOK by 0.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares in the last quarter. Brighton Jones LLC grew its stake in ONEOK by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 122 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in ONEOK by 1.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock valued at $839,000 after acquiring an additional 125 shares in the last quarter. Finally, Capital Wealth Planning LLC boosted its holdings in ONEOK by 4.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

ONEOK Price Performance

ONEOK stock opened at $96.21 on Thursday. The firm has a market cap of $56.19 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.43. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average is $93.37 and its two-hundred day moving average is $85.64.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 15.54% and a net margin of 13.41%. During the same quarter last year, the company earned $0.99 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.12%. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Truist Financial boosted their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $96.00.

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.