ONEOK, Inc. (NYSE:OKE) Holdings Decreased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 61.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,631 shares of the utilities provider’s stock after selling 23,347 shares during the quarter. Lake Street Advisors Group LLC’s holdings in ONEOK were worth $1,333,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of ONEOK in the second quarter valued at $28,000. Matrix Trust Co bought a new position in shares of ONEOK during the 3rd quarter valued at about $29,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK in the 2nd quarter worth approximately $31,000. Manchester Capital Management LLC lifted its stake in ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in ONEOK during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

ONEOK Price Performance

Shares of NYSE:OKE opened at $96.66 on Friday. The firm has a market cap of $56.42 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 4.31 and a beta of 1.67. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $92.67 and a 200 day simple moving average of $85.13.

ONEOK (NYSE:OKE) last posted its quarterly 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 company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period last year, the business earned $1.04 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is 92.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OKE shares. Wells Fargo & Company increased their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Truist Financial upped their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Scotiabank lifted their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $94.77.

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.