Pine Valley Investments Ltd Liability Co Sells 171 Shares of ONEOK, Inc. (NYSE:OKE)

Pine Valley Investments Ltd Liability Co cut its holdings in ONEOK, Inc. (NYSE:OKE) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,697 shares of the utilities provider’s stock after selling 171 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in ONEOK were worth $2,524,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC purchased a new position in ONEOK in the second quarter valued at about $28,000. Matrix Trust Co bought a new stake in shares of ONEOK in the third quarter valued at $29,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK in the second quarter valued at $31,000. Access Investment Management LLC purchased a new stake in ONEOK in the 3rd quarter worth about $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK in the 3rd quarter valued at about $44,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Seven 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Trading Up 0.1 %

NYSE OKE opened at $104.47 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock’s 50-day simple moving average is $103.17 and its two-hundred day simple moving average is $91.52. ONEOK, Inc. has a twelve month low of $65.49 and a twelve month high of $118.07. The company has a market capitalization of $61.03 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 5.26 and a beta of 1.69.

ONEOK (NYSE:OKE) last posted its quarterly 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 business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the business posted $0.99 earnings per share. Research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.79%. ONEOK’s payout ratio is presently 82.85%.

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.