Clarius Group LLC Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

Clarius Group LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,679 shares of the utilities provider’s stock after selling 126 shares during the period. Clarius Group LLC’s holdings in ONEOK were worth $334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caxton Associates LP purchased a new position in ONEOK in the second quarter valued at $1,225,000. Point72 Europe London LLP acquired a new stake in ONEOK in the second quarter valued at $15,008,000. Norden Group LLC raised its stake 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 buying an additional 131,441 shares in the last quarter. NewEdge Advisors LLC raised its stake in ONEOK by 61.0% in the second quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock valued at $11,836,000 after buying an additional 54,978 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake 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 buying an additional 1,128,066 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OKE shares. Truist Financial raised their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Barclays lifted their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada lifted their target price on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average target price of $92.38.

ONEOK Stock Performance

NYSE OKE opened at $96.61 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $96.64. The business’s 50-day moving average price is $90.44 and its 200 day moving average price is $84.11. The firm has a market cap of $56.43 billion, a P/E ratio of 21.05, a P/E/G ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the company earned $1.04 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 86.27%.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate 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.