Diversified LLC Sells 257 Shares of ONEOK, Inc. (NYSE:OKE)

Diversified LLC lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,976 shares of the utilities provider’s stock after selling 257 shares during the period. Diversified LLC’s holdings in ONEOK were worth $271,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. HM Payson & Co. raised its holdings in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares in the last quarter. Claro Advisors LLC raised its holdings in ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 115 shares in the last quarter. Haverford Trust Co increased its holdings in shares of ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after acquiring an additional 117 shares during the period. QRG Capital Management Inc. increased its holdings in shares of ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the period. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of ONEOK by 0.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after acquiring an additional 122 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial lifted their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Up 0.6 %

Shares of NYSE:OKE opened at $117.81 on Monday. The stock has a 50-day simple moving average of $98.87 and a 200-day simple moving average of $89.00. The stock has a market capitalization of $68.82 billion, a P/E ratio of 24.49, a PEG ratio of 5.84 and a beta of 1.66. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07. 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 announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the firm earned $0.99 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.36%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.