ONEOK, Inc. (NYSE:OKE) Position Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 510,893 shares of the utilities provider’s stock after selling 26,391 shares during the quarter. Victory Capital Management Inc.’s holdings in ONEOK were worth $46,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OKE. Envestnet Portfolio Solutions Inc. raised its holdings in shares of ONEOK by 21.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after acquiring an additional 844 shares in the last quarter. QRG Capital Management Inc. increased its position in ONEOK by 3.8% during the first quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock worth $437,000 after buying an additional 198 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in ONEOK by 28.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock worth $5,059,000 after buying an additional 14,058 shares during the last quarter. Kingsview Wealth Management LLC increased its position in ONEOK by 2.7% during the first quarter. Kingsview Wealth Management LLC now owns 15,166 shares of the utilities provider’s stock worth $1,216,000 after buying an additional 396 shares during the last quarter. Finally, Nwam LLC acquired a new position in ONEOK during the first quarter worth $201,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Stock Up 1.8 %

Shares of OKE opened at $109.81 on Friday. The stock has a market cap of $64.15 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 5.40 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $64.68 and a 12 month high of $110.05. The company has a 50-day moving average price of $96.17 and a two-hundred day moving average price of $87.38.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business earned $0.99 EPS. Equities analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

Analysts Set New Price Targets

OKE has been the topic of several analyst reports. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Wells Fargo & Company raised their price target on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

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.