ONEOK, Inc. (NYSE:OKE) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 823,323 shares of the utilities provider’s stock after selling 21,803 shares during the period. Bank of Montreal Can owned approximately 0.14% of ONEOK worth $67,150,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hilltop Holdings Inc. boosted its stake in shares of ONEOK by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 1,124 shares during the period. TD Asset Management Inc lifted its position in ONEOK by 11.6% in the fourth quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock valued at $14,610,000 after purchasing an additional 21,657 shares during the period. Norden Group LLC lifted its position in ONEOK by 4,460.2% in the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after purchasing an additional 131,441 shares during the period. Wellington Management Group LLP lifted its position in ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in ONEOK by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock valued at $8,510,000 after purchasing an additional 9,722 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. 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. Wells Fargo & Company increased their target price on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Barclays increased their target price on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.38.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’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 transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

ONEOK Trading Down 0.0 %

Shares of OKE opened at $95.24 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a 50 day simple moving average of $87.65 and a 200-day simple moving average of $82.74. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $96.05. The stock has a market cap of $55.63 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the business earned $1.04 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

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.