CX Institutional Sells 740 Shares of ONEOK, Inc. (NYSE:OKE)

CX Institutional lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,843 shares of the utilities provider’s stock after selling 740 shares during the quarter. CX Institutional’s holdings in ONEOK were worth $5,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. National Pension Service boosted its stake in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. increased its stake in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares in the last quarter. Caxton Associates LP purchased a new position in shares of ONEOK in the second quarter valued at about $1,225,000. Nations Financial Group Inc. IA ADV boosted its stake in ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the period. Finally, Sageworth Trust Co bought a new stake in ONEOK in the 3rd quarter valued at $568,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.3 %

Shares of NYSE OKE opened at $105.23 on Friday. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The stock has a market cap of $61.47 billion, a PE ratio of 22.05, a P/E/G ratio of 4.03 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $106.17 and a 200 day moving average of $96.28.

ONEOK (NYSE:OKE) last released 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 firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company earned $0.99 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.92%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OKE. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Bank of America began 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. Barclays lifted their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

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.