ONEOK, Inc. (NYSE:OKE) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,991 shares of the utilities provider’s stock after selling 285 shares during the quarter. NewEdge Wealth LLC’s holdings in ONEOK were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in OKE. Charles Schwab Investment Management Inc. raised its holdings 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 worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in ONEOK by 15.2% in the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after acquiring an additional 263,545 shares during the last quarter. Finally, Barclays PLC increased its holdings in ONEOK by 16.1% during the 3rd quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock valued at $172,131,000 after acquiring an additional 262,486 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays began coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target for the company. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Price Performance

OKE opened at $100.29 on Friday. ONEOK, Inc. has a 1 year low of $74.39 and a 1 year high of $118.07. The company’s 50 day simple moving average is $100.91 and its 200 day simple moving average is $99.19. The stock has a market capitalization of $62.62 billion, a PE ratio of 20.98, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. 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 4.11%. ONEOK’s dividend payout ratio is currently 79.69%.

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.