Brown Brothers Harriman & Co. Has $473,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Brown Brothers Harriman & Co. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,798 shares of the utilities provider’s stock after selling 806 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in ONEOK were worth $473,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OKE. Hilltop Holdings Inc. lifted its stake in shares of ONEOK by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after acquiring an additional 1,124 shares during the period. TD Asset Management Inc boosted its holdings 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 acquiring an additional 21,657 shares during the last quarter. Norden Group LLC boosted its holdings 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 acquiring an additional 131,441 shares during the last quarter. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 1,128,066 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings 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 acquiring an additional 9,722 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on OKE. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a report on Monday. Truist Financial increased their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Barclays increased their price target on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.38.

ONEOK Trading Up 1.0 %

NYSE OKE opened at $94.66 on Wednesday. The firm has a market capitalization of $55.29 billion, a P/E ratio of 22.01, a PEG ratio of 4.49 and a beta of 1.67. The business has a fifty day simple moving average of $86.60 and a 200 day simple moving average of $82.14. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $94.95. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the prior year, the firm posted $1.04 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio 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.