Disciplined Investments LLC Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Disciplined Investments LLC reduced its stake in ONEOK, Inc. (NYSE:OKE) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,666 shares of the utilities provider’s stock after selling 661 shares during the quarter. Disciplined Investments LLC’s holdings in ONEOK were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of OKE. US Bancorp DE raised its stake in ONEOK by 2.4% in the third quarter. US Bancorp DE now owns 86,296 shares of the utilities provider’s stock valued at $7,864,000 after purchasing an additional 2,012 shares in the last quarter. Farther Finance Advisors LLC raised its stake in ONEOK by 4.3% in the third quarter. Farther Finance Advisors LLC now owns 7,592 shares of the utilities provider’s stock valued at $692,000 after purchasing an additional 313 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in ONEOK by 1.7% in the third quarter. Janney Montgomery Scott LLC now owns 187,696 shares of the utilities provider’s stock valued at $17,105,000 after purchasing an additional 3,139 shares in the last quarter. Van ECK Associates Corp grew its position in ONEOK by 14.3% during the third quarter. Van ECK Associates Corp now owns 196,855 shares of the utilities provider’s stock valued at $19,048,000 after acquiring an additional 24,594 shares during the last quarter. Finally, Angeles Wealth Management LLC bought a new position in ONEOK during the third quarter valued at approximately $250,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $96.57 on Tuesday. The stock has a market cap of $60.29 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s fifty day simple moving average is $100.83 and its 200 day simple moving average is $99.35. ONEOK, Inc. has a twelve month low of $75.69 and a twelve month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.27%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

OKE has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays initiated coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Finally, Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $104.15.

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.