Great Valley Advisor Group Inc. Has $990,000 Stake in ONEOK, Inc. (NYSE:OKE)

Great Valley Advisor Group Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,862 shares of the utilities provider’s stock after selling 386 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in ONEOK were worth $990,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of OKE. Quest Partners LLC acquired a new stake in ONEOK in the 2nd quarter valued at about $28,000. Matrix Trust Co bought a new stake in ONEOK in the third quarter valued at approximately $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the second quarter valued at approximately $31,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $44,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OKE shares. Citigroup raised 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. Wells Fargo & Company raised their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial lifted their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Finally, UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Down 4.8 %

Shares of NYSE OKE opened at $111.46 on Tuesday. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07. The stock’s fifty day moving average is $99.23 and its 200 day moving average is $89.22. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $65.11 billion, a P/E ratio of 23.32, a PEG ratio of 5.84 and a beta of 1.66.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Insider Activity

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

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.