Stokes Capital Advisors LLC Sells 1,583 Shares of ONEOK, Inc. (NYSE:OKE)

Stokes Capital Advisors LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 28.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,908 shares of the utilities provider’s stock after selling 1,583 shares during the quarter. Stokes Capital Advisors LLC’s holdings in ONEOK were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of ONEOK in the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new position in ONEOK in the 1st quarter worth $26,000. HHM Wealth Advisors LLC purchased a new position in ONEOK in the 4th quarter worth $32,000. American National Bank bought a new stake in ONEOK in the first quarter worth $32,000. Finally, Security National Bank purchased a new stake in ONEOK during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock traded up $0.49 during midday trading on Friday, reaching $87.46. 5,610,574 shares of the company traded hands, compared to its average volume of 2,898,694. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $87.74. The firm has a market capitalization of $51.08 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 4.36 and a beta of 1.65. The business has a 50 day moving average of $82.39 and a two-hundred day moving average of $79.17.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the business posted $1.04 EPS. As a group, research analysts predict that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKE. Morgan Stanley upped their target price on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. Truist Financial raised their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.50.

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.