ONEOK, Inc. (NYSE:OKE) Shares Sold by WP Advisors LLC

WP Advisors LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 57.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 39,920 shares of the utilities provider’s stock after selling 53,965 shares during the period. ONEOK accounts for approximately 1.3% of WP Advisors LLC’s portfolio, making the stock its 19th biggest holding. WP Advisors LLC’s holdings in ONEOK were worth $3,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of ONEOK during the second quarter worth approximately $28,000. Matrix Trust Co acquired a new stake in ONEOK in the third quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new stake in ONEOK in the second quarter worth approximately $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter valued at $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK in the third quarter valued at $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

ONEOK Stock Performance

NYSE OKE opened at $109.81 on Monday. The firm has a market cap of $64.15 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 5.48 and a beta of 1.66. The company has a 50 day moving average of $96.54 and a 200-day moving average of $87.72. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $64.68 and a 1-year high of $110.05.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the business posted $0.99 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial upped their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $100.38.

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.