ONEOK, Inc. (NYSE:OKE) Position Cut by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,080,600 shares of the utilities provider’s stock after selling 21,144 shares during the period. Westwood Holdings Group Inc. owned approximately 0.36% of ONEOK worth $169,673,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its holdings in shares of ONEOK by 28.8% in the fourth quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock valued at $11,154,000 after acquiring an additional 35,518 shares in the last quarter. Allstate Corp acquired a new position in shares of ONEOK during the 4th quarter valued at $200,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of ONEOK by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 142,426 shares of the utilities provider’s stock valued at $10,001,000 after buying an additional 5,867 shares during the period. Commerce Bank boosted its stake in ONEOK by 0.6% during the fourth quarter. Commerce Bank now owns 205,486 shares of the utilities provider’s stock valued at $14,429,000 after buying an additional 1,196 shares in the last quarter. Finally, Avantax Planning Partners Inc. boosted its position in shares of ONEOK by 40.2% during the 4th quarter. Avantax Planning Partners Inc. now owns 5,297 shares of the utilities provider’s stock valued at $372,000 after purchasing an additional 1,520 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKE. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Barclays upped their price target on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Wells Fargo & Company upped their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Truist Financial lifted their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.38.

ONEOK Trading Up 0.2 %

Shares of NYSE:OKE opened at $93.97 on Friday. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $95.28. 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 company has a market cap of $54.89 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.64 and a beta of 1.67. The stock’s 50-day moving average is $87.24 and its 200-day moving average is $82.42.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the business posted $1.04 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

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.