Midwest Financial Group LLC Trims Stake in ONEOK, Inc. (NYSE:OKE)

Midwest Financial Group LLC cut its position in ONEOK, Inc. (NYSE:OKE) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,117 shares of the utilities provider’s stock after selling 283 shares during the quarter. ONEOK makes up 2.0% of Midwest Financial Group LLC’s investment portfolio, making the stock its 16th biggest holding. Midwest Financial Group LLC’s holdings in ONEOK were worth $3,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. National Pension Service grew its stake in shares of ONEOK by 1.6% in 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. grew its position in ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the last quarter. Caxton Associates LP acquired a new position in ONEOK in the 2nd quarter valued at $1,225,000. Nations Financial Group Inc. IA ADV increased 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 valued at $4,972,000 after buying an additional 5,451 shares during the period. Finally, Sageworth Trust Co acquired a new stake in shares of ONEOK in the 3rd quarter worth $568,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OKE shares. Royal Bank of Canada boosted their price target 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. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Finally, Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Stock Performance

Shares of OKE opened at $105.03 on Friday. The company has a 50-day moving average of $106.17 and a two-hundred day moving average of $96.28. The stock has a market cap of $61.36 billion, a P/E ratio of 21.97, a PEG ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. 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 (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company 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 in the prior year, the firm earned $0.99 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.92%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) 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.