ONEOK, Inc. (NYSE:OKE) Stock Position Lessened by United Community Bank

United Community Bank trimmed its position in ONEOK, Inc. (NYSE:OKE) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,095 shares of the utilities provider’s stock after selling 290 shares during the period. United Community Bank’s holdings in ONEOK were worth $311,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OKE. Nations Financial Group Inc. IA ADV grew its holdings in shares of ONEOK by 11.1% during the third 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 in the last quarter. FNY Investment Advisers LLC boosted its position in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares during the period. Fifth Third Wealth Advisors LLC increased its position in ONEOK by 222.3% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after buying an additional 11,160 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in ONEOK by 130.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock valued at $9,445,000 after purchasing an additional 58,649 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.2 %

Shares of NYSE:OKE opened at $89.59 on Friday. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a market cap of $55.93 billion, a P/E ratio of 18.74, a PEG ratio of 3.77 and a beta of 1.70. The business’s 50 day simple moving average is $100.00 and its two-hundred day simple moving average is $99.37. 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 released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.60%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKE. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. UBS Group raised their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.31.

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.