Old Port Advisors Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

Old Port Advisors reduced its position in ONEOK, Inc. (NYSE:OKE) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,952 shares of the utilities provider’s stock after selling 274 shares during the period. Old Port Advisors’ holdings in ONEOK were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of OKE. Quest Partners LLC purchased a new position in shares of ONEOK in the second quarter worth approximately $28,000. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter worth $29,000. Access Investment Management LLC bought a new stake in shares of ONEOK during the 3rd quarter valued at $37,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK in the 3rd quarter worth $44,000. Finally, Fortitude Family Office LLC raised its holdings in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OKE. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial increased their price objective 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. Finally, Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Price Performance

NYSE:OKE traded up $1.39 during trading hours on Thursday, reaching $101.79. The stock had a trading volume of 504,215 shares, compared to its average volume of 2,817,240. 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 $59.46 billion, a PE ratio of 21.30, a PEG ratio of 5.24 and a beta of 1.69. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a 50 day moving average price of $104.78 and a two-hundred day moving average price of $93.78.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $0.99 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.1 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. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.89%. ONEOK’s dividend payout ratio is currently 82.85%.

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.