Focused Wealth Management Inc Sells 148 Shares of ONEOK, Inc. (NYSE:OKE)

Focused Wealth Management Inc decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,201 shares of the utilities provider’s stock after selling 148 shares during the period. Focused Wealth Management Inc’s holdings in ONEOK were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Norden Group LLC grew its holdings in ONEOK by 153.1% during the 1st quarter. Norden Group LLC now owns 7,458 shares of the utilities provider’s stock worth $598,000 after acquiring an additional 4,511 shares during the period. Nordea Investment Management AB increased its stake in shares of ONEOK by 4.5% during the 1st quarter. Nordea Investment Management AB now owns 35,326 shares of the utilities provider’s stock worth $2,827,000 after purchasing an additional 1,513 shares during the last quarter. Whittier Trust Co. increased its position in ONEOK by 7.9% in the first quarter. Whittier Trust Co. now owns 9,964 shares of the utilities provider’s stock worth $799,000 after buying an additional 727 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of ONEOK during the 1st quarter valued at $88,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of ONEOK by 24.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,564 shares of the utilities provider’s stock valued at $2,210,000 after purchasing an additional 5,439 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 3.1 %

OKE stock opened at $98.61 on Wednesday. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.65. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.66. The business’s 50 day moving average price is $94.01 and its two-hundred day moving average price is $86.20. 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 issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $0.99 earnings per share. As a group, analysts forecast that ONEOK, Inc. will post 5.16 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OKE shares. Scotiabank raised their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Truist Financial upped their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.92.

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.