Park Avenue Securities LLC Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Park Avenue Securities LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,893 shares of the utilities provider’s stock after selling 466 shares during the period. Park Avenue Securities LLC’s holdings in ONEOK were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of ONEOK in the first quarter worth approximately $25,000. Quest Partners LLC acquired a new stake in shares of ONEOK in the second quarter valued at approximately $28,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter worth approximately $31,000. American National Bank purchased a new stake in ONEOK in the 1st quarter valued at $32,000. Finally, Manchester Capital Management LLC raised its holdings in shares of ONEOK by 66.4% during the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.0 %

Shares of NYSE:OKE opened at $94.71 on Friday. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $96.05. The firm’s 50 day moving average price is $89.85 and its 200 day moving average price is $83.87. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The stock has a market cap of $55.28 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 4.62 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings results 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 analysts’ expectations of $5.52 billion. During the same period last year, the firm earned $1.04 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced 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 dividend yield of 4.18%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKE. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Truist Financial lifted their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price target on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Morgan Stanley raised shares of 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 research report on Monday, September 16th. Eight equities 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.38.

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.