HighTower Advisors LLC Cuts Stake in ONEOK, Inc. (NYSE:OKE)

HighTower Advisors LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 394,255 shares of the utilities provider’s stock after selling 12,729 shares during the quarter. HighTower Advisors LLC owned about 0.07% of ONEOK worth $39,583,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Inspire Advisors LLC lifted its stake in shares of ONEOK by 6.8% in the 4th quarter. Inspire Advisors LLC now owns 22,681 shares of the utilities provider’s stock worth $2,277,000 after purchasing an additional 1,447 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of ONEOK by 12.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 12,880 shares of the utilities provider’s stock worth $1,293,000 after purchasing an additional 1,471 shares during the period. Sage Mountain Advisors LLC lifted its stake in shares of ONEOK by 5.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 9,476 shares of the utilities provider’s stock worth $951,000 after purchasing an additional 490 shares during the period. Dearborn Partners LLC lifted its stake in shares of ONEOK by 0.7% in the 4th quarter. Dearborn Partners LLC now owns 111,198 shares of the utilities provider’s stock worth $11,164,000 after purchasing an additional 748 shares during the period. Finally, Davis R M Inc. lifted its stake in shares of ONEOK by 4.6% in the 4th quarter. Davis R M Inc. now owns 6,040 shares of the utilities provider’s stock worth $606,000 after purchasing an additional 266 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Finally, Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. 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 stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Up 0.5 %

NYSE OKE opened at $93.40 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a fifty day moving average of $99.34 and a two-hundred day moving average of $99.43. The firm has a market capitalization of $58.31 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were 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 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s 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.