Clearstead Trust LLC Sells 454 Shares of ONEOK, Inc. (NYSE:OKE)

Clearstead Trust LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,659 shares of the utilities provider’s stock after selling 454 shares during the period. Clearstead Trust LLC’s holdings in ONEOK were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of ONEOK during the fourth quarter worth about $182,694,000. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK during the third quarter worth about $47,957,000. National Pension Service raised its position in shares of ONEOK by 65.3% during the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after purchasing an additional 498,908 shares during the period. Finally, Yaupon Capital Management LP acquired a new stake in shares of ONEOK during the third quarter worth about $45,194,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank dropped their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Performance

Shares of NYSE OKE opened at $96.52 on Friday. 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, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock has a 50 day moving average of $99.21 and a 200-day moving average of $99.49. The company has a market capitalization of $60.26 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities research analysts predict 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. Investors of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. ONEOK’s payout ratio is 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.