Bradley Foster & Sargent Inc. CT Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Bradley Foster & Sargent Inc. CT decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,460 shares of the utilities provider’s stock after selling 2,810 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in ONEOK were worth $4,278,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OKE. Tortoise Capital Advisors L.L.C. increased its holdings in shares of ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after buying an additional 232,043 shares during the last quarter. Northern Trust Corp increased its holdings in shares of ONEOK by 1.5% in the 4th quarter. Northern Trust Corp now owns 5,754,127 shares of the utilities provider’s stock worth $404,055,000 after buying an additional 85,736 shares during the last quarter. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter worth about $297,948,000. Kayne Anderson Capital Advisors LP increased its holdings in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after buying an additional 825,464 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after buying an additional 378,509 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of research reports. JPMorgan Chase & Co. boosted 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. Mizuho boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Morgan Stanley raised 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 report on Monday. Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Truist Financial increased their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.38.

Insider Activity at ONEOK

In other ONEOK 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Price Performance

NYSE OKE opened at $93.90 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm’s 50 day moving average price is $86.83 and its 200-day moving average price is $82.22. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $95.26. The company has a market cap of $54.84 billion, a PE ratio of 21.84, a P/E/G ratio of 4.49 and a beta of 1.67.

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 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 the consensus estimate of $5.52 billion. During the same period last year, the firm earned $1.04 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

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 was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.22%. ONEOK’s payout ratio is 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.