Raymond James Financial Services Advisors Inc. Sells 5,981 Shares of ONEOK, Inc. (NYSE:OKE)

Raymond James Financial Services Advisors Inc. lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 731,525 shares of the utilities provider’s stock after selling 5,981 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.13% of ONEOK worth $59,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. raised its position in ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares in the last quarter. Sheets Smith Wealth Management grew its stake in ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after buying an additional 139 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in ONEOK by 5.3% in the 1st quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 142 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in ONEOK by 4.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 144 shares in the last quarter. Finally, Presima Securities ULC increased its stake in shares of ONEOK by 1.7% in the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock valued at $639,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock traded up $0.94 during mid-day trading on Monday, reaching $88.40. 2,074,462 shares of the company’s stock were exchanged, compared to its average volume of 2,782,229. The firm has a market capitalization of $51.63 billion, a PE ratio of 20.56, a P/E/G ratio of 4.36 and a beta of 1.65. ONEOK, Inc. has a one year low of $60.58 and a one year high of $88.68. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business’s fifty day simple moving average is $82.56 and its 200 day simple moving average is $79.31.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter last year, the business earned $1.04 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.48%. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

Several research analysts have issued reports on OKE shares. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Truist Financial lifted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.50.

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.