United Services Automobile Association Trims Stake in ONEOK, Inc. (NYSE:OKE)

United Services Automobile Association lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,608 shares of the utilities provider’s stock after selling 385 shares during the period. United Services Automobile Association’s holdings in ONEOK were worth $1,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Principal Securities Inc. purchased a new stake in shares of ONEOK during the fourth quarter valued at $245,000. Cary Street Partners Investment Advisory LLC grew its stake in ONEOK by 28.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 15,347 shares of the utilities provider’s stock worth $1,078,000 after acquiring an additional 3,373 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ONEOK by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,214,343 shares of the utilities provider’s stock worth $225,716,000 after acquiring an additional 30,098 shares during the period. Principal Financial Group Inc. raised its stake in shares of ONEOK by 5.2% during the fourth quarter. Principal Financial Group Inc. now owns 696,322 shares of the utilities provider’s stock valued at $48,896,000 after acquiring an additional 34,162 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of ONEOK by 22.5% in the fourth quarter. Ieq Capital LLC now owns 17,425 shares of the utilities provider’s stock valued at $1,224,000 after purchasing an additional 3,204 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE stock opened at $92.03 on Tuesday. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 4.51 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The stock’s 50-day simple moving average is $85.45 and its 200-day simple moving average is $81.38.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of research analyst reports. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial upped their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Scotiabank boosted their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada increased their price objective on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.92.

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.