Mitchell Mcleod Pugh & Williams Inc. Reduces Stake in ONEOK, Inc. (NYSE:OKE)

Mitchell Mcleod Pugh & Williams Inc. cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,404 shares of the utilities provider’s stock after selling 162 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in ONEOK were worth $844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK in the third quarter worth approximately $47,957,000. Yaupon Capital Management LP purchased a new stake in shares of ONEOK during the third quarter valued at approximately $45,194,000. Finally, National Bank of Canada FI increased its position in shares of ONEOK by 199.9% during the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after acquiring an additional 465,243 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $109.08 on Monday. The business’s fifty day moving average is $106.17 and its 200 day moving average is $95.74. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $63.72 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm earned $0.99 earnings per share. Sell-side analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKE. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

About ONEOK

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.