ONEOK, Inc. (NYSE:OKE) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 18.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,706 shares of the utilities provider’s stock after selling 13,716 shares during the period. Prime Capital Investment Advisors LLC’s holdings in ONEOK were worth $5,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in OKE. NorthRock Partners LLC purchased a new position in ONEOK during the 4th quarter worth approximately $216,000. Financial Advocates Investment Management increased its holdings in shares of ONEOK by 6.1% in the 4th quarter. Financial Advocates Investment Management now owns 8,494 shares of the utilities provider’s stock valued at $596,000 after acquiring an additional 490 shares during the period. Independent Advisor Alliance raised its position in ONEOK by 12.3% in the 4th quarter. Independent Advisor Alliance now owns 15,828 shares of the utilities provider’s stock valued at $1,111,000 after purchasing an additional 1,729 shares during the last quarter. Kentucky Retirement Systems boosted its stake in ONEOK by 38.6% during the 4th quarter. Kentucky Retirement Systems now owns 46,610 shares of the utilities provider’s stock worth $3,273,000 after purchasing an additional 12,989 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in ONEOK by 38.3% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 20,754 shares of the utilities provider’s stock worth $1,457,000 after purchasing an additional 5,743 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated 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 at the SEC website. 0.20% of the stock is currently owned by insiders.

ONEOK Trading Up 1.0 %

Shares of ONEOK stock opened at $91.37 on Monday. The company has a 50-day moving average of $86.12 and a two-hundred day moving average of $81.87. The stock has a market cap of $53.33 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.47 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $93.00.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.33%. ONEOK’s payout ratio is 92.09%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OKE shares. Wells Fargo & Company upped 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. Morgan Stanley lifted their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Truist Financial boosted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.