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

SeaBridge Investment Advisors LLC cut its position in ONEOK, Inc. (NYSE:OKE) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,708 shares of the utilities provider’s stock after selling 358 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in ONEOK were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Astoria Portfolio Advisors LLC. raised its stake in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the last quarter. Mutual Advisors LLC increased its stake in ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares in the last quarter. Morton Capital Management LLC CA raised its stake in shares of ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the last quarter. HM Payson & Co. grew its position in shares of ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the last quarter. Finally, Bill Few Associates Inc. raised its stake in ONEOK by 3.9% in the 4th quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OKE. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays upped their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Trading Down 2.9 %

NYSE:OKE opened at $96.95 on Friday. The stock has a market cap of $56.64 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.81 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The business has a fifty day moving average of $104.51 and a 200-day moving average of $97.06.

ONEOK (NYSE:OKE) last announced 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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company earned $0.99 EPS. Equities analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.25%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.