Great Lakes Advisors LLC Sells 198 Shares of ONEOK, Inc. (NYSE:OKE)

Great Lakes Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,656 shares of the utilities provider’s stock after selling 198 shares during the period. Great Lakes Advisors LLC’s holdings in ONEOK were worth $3,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of ONEOK in the 1st quarter worth about $25,000. LifeSteps Financial Inc. purchased a new stake in ONEOK in the first quarter worth about $26,000. Ridgewood Investments LLC bought a new position in shares of ONEOK during the second quarter valued at approximately $31,000. American National Bank purchased a new position in shares of ONEOK during the first quarter valued at approximately $32,000. Finally, Security National Bank bought a new stake in shares of ONEOK in the 4th quarter worth approximately $35,000. Institutional investors own 69.13% of the company’s stock.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $92.03 on Tuesday. The firm has a market cap of $53.75 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 4.51 and a beta of 1.67. The firm has a fifty day moving average price of $85.45 and a 200 day moving average price of $81.38. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $93.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.30%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial raised their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price target on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus price target of $89.92.

About ONEOK

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.