ONEOK, Inc. (NYSE:OKE) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 43.3% during the third quarter, Holdings Channel reports. The fund owned 2,357 shares of the utilities provider’s stock after selling 1,801 shares during the period. NorthRock Partners LLC’s holdings in ONEOK were worth $215,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Tortoise Capital Advisors L.L.C. increased its holdings in ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after purchasing an additional 232,043 shares during the period. First Eagle Investment Management LLC increased its stake in shares of ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares during the period. Energy Income Partners LLC raised its holdings in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after acquiring an additional 319,487 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after acquiring an additional 132,326 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKE. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $96.92.

ONEOK Price Performance

Shares of OKE opened at $102.20 on Thursday. The company has a market capitalization of $59.70 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 4.08 and a beta of 1.66. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $103.12. The firm has a 50-day simple moving average of $94.29 and a 200-day simple moving average of $86.31. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the business posted $0.99 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.87%. ONEOK’s payout ratio is currently 82.85%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Company 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.