First Eagle Investment Management LLC Sells 671,765 Shares of ONEOK, Inc. (NYSE:OKE)

First Eagle Investment Management LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 19.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,774,303 shares of the utilities provider’s stock after selling 671,765 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.47% of ONEOK worth $278,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter worth $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter valued at about $48,000. OFI Invest Asset Management bought a new position in shares of ONEOK in the fourth quarter valued at about $51,000. Finally, Versant Capital Management Inc raised its holdings in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

NYSE OKE opened at $93.40 on Friday. The business has a 50 day simple moving average of $99.34 and a 200 day simple moving average of $99.43. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week 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. The stock has a market cap 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 (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.41%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Scotiabank lowered their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Seven 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

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.