SL Advisors LLC Trims Stock Position in ONEOK, Inc. (NYSE:OKE)

SL Advisors LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 37,405 shares of the utilities provider’s stock after selling 385 shares during the quarter. ONEOK makes up 6.2% of SL Advisors LLC’s portfolio, making the stock its 7th biggest position. SL Advisors LLC’s holdings in ONEOK were worth $3,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Quest Partners LLC bought a new position in ONEOK in the 2nd quarter valued at about $28,000. Matrix Trust Co acquired a new position in shares of ONEOK during the third quarter valued at approximately $29,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter worth approximately $37,000. Values First Advisors Inc. acquired a new stake in ONEOK in the third quarter worth approximately $44,000. Finally, Fortitude Family Office LLC boosted its stake in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.5 %

NYSE OKE traded up $0.52 on Wednesday, reaching $102.13. The company had a trading volume of 823,114 shares, compared to its average volume of 2,173,656. The company’s fifty day moving average is $105.22 and its 200-day moving average is $94.49. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The firm has a market capitalization of $59.66 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. 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). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the business earned $0.99 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed 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 was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.88%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

Several research analysts have issued reports on OKE shares. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays upped their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Finally, UBS Group lifted their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

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.