ONEOK, Inc. (NYSE:OKE) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 28.6% in the third quarter, Holdings Channel reports. The firm owned 21,121 shares of the utilities provider’s stock after selling 8,452 shares during the period. Wright Investors Service Inc.’s holdings in ONEOK were worth $1,925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in shares of ONEOK during the first quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK in the 1st quarter valued at approximately $26,000. Quest Partners LLC purchased a new stake in ONEOK in the second quarter valued at approximately $28,000. Ridgewood Investments LLC acquired a new position in ONEOK during the second quarter worth $31,000. Finally, American National Bank purchased a new position in shares of ONEOK during the first quarter worth $32,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.5 %

Shares of NYSE:OKE traded up $0.52 during trading on Friday, hitting $95.23. 1,861,481 shares of the company were exchanged, compared to its average volume of 2,774,296. 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’s 50 day moving average price is $89.16 and its 200-day moving average price is $83.55. The stock has a market capitalization of $55.58 billion, a P/E ratio of 22.15, a PEG ratio of 4.46 and a beta of 1.67. ONEOK, Inc. has a 12-month low of $60.79 and a 12-month high of $96.05.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (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 company 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 posted $1.04 earnings per share. On average, research analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Wells Fargo & Company boosted their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company 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.