ONEOK, Inc. (NYSE:OKE) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,409 shares of the utilities provider’s stock after selling 1,842 shares during the quarter. HighPoint Advisor Group LLC’s holdings in ONEOK were worth $2,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC acquired a new stake in shares of ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK during the fourth quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new stake in shares of ONEOK in the 4th quarter valued at approximately $48,000. VSM Wealth Advisory LLC acquired a new position in shares of ONEOK in the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management purchased a new position in shares of ONEOK during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.8 %

Shares of NYSE OKE opened at $99.28 on Tuesday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a market capitalization of $61.98 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a 50-day moving average of $98.12 and a two-hundred day moving average of $100.30.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.15%. ONEOK’s payout ratio is 79.69%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research analyst reports. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Finally, Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.00.

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.