Cascade Investment Group Inc. Sells 266 Shares of ONEOK, Inc. (NYSE:OKE)

Cascade Investment Group Inc. decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,258 shares of the utilities provider’s stock after selling 266 shares during the period. Cascade Investment Group Inc.’s holdings in ONEOK were worth $479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of ONEOK during the 1st quarter valued at about $25,000. Quest Partners LLC acquired a new position in ONEOK during the 2nd quarter worth approximately $28,000. Matrix Trust Co acquired a new position in ONEOK during the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new position in ONEOK during the 2nd quarter worth approximately $31,000. Finally, American National Bank acquired a new position in ONEOK during the 1st quarter worth approximately $32,000. Institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $94.98 on Wednesday. The stock has a fifty day simple moving average of $91.07 and a two-hundred day simple moving average of $84.36. ONEOK, Inc. has a 1-year low of $63.33 and a 1-year high of $98.01. The firm has a market cap of $55.43 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the company earned $1.04 earnings per share. Analysts anticipate that ONEOK, Inc. will post 5.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Truist Financial upped their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank increased their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Finally, Mizuho upped their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.38.

ONEOK Company 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.