PCG Wealth Advisors LLC Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

PCG Wealth Advisors LLC lowered its position in ONEOK, Inc. (NYSE:OKE) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,739 shares of the utilities provider’s stock after selling 110 shares during the period. PCG Wealth Advisors LLC’s holdings in ONEOK were worth $375,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares during the period. Geode Capital Management LLC grew its stake in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its stake in ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares in the last quarter. International Assets Investment Management LLC grew its stake in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc boosted its position in ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after acquiring an additional 277,514 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $104.42 on Friday. The stock has a market capitalization of $61.00 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $67.05 and a twelve 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. The stock has a 50-day moving average of $106.11 and a 200 day moving average of $96.34.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $0.99 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 3.95%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s payout ratio is 82.85%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

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.