Diversify Advisory Services LLC Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

Diversify Advisory Services LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,051 shares of the utilities provider’s stock after selling 419 shares during the quarter. Diversify Advisory Services LLC’s holdings in ONEOK were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. QRG Capital Management Inc. boosted its holdings in shares of ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in shares of ONEOK by 0.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 122 shares during the period. Brighton Jones LLC lifted its stake in shares of ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 122 shares during the period. Ferguson Wellman Capital Management Inc. lifted its stake in shares of ONEOK by 1.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after purchasing an additional 125 shares during the period. Finally, Capital Wealth Planning LLC lifted its stake in shares of ONEOK by 4.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

ONEOK Trading Up 0.7 %

Shares of OKE opened at $96.88 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43. The company has a 50 day simple moving average of $93.56 and a two-hundred day simple moving average of $85.72. The firm has a market cap of $56.59 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Barclays increased their price objective on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Truist Financial raised their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Mizuho raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Eight research 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 a consensus target price of $96.00.

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.