Pathstone Holdings LLC Decreases Position in ONEOK, Inc. (NYSE:OKE)

Pathstone Holdings LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,401 shares of the utilities provider’s stock after selling 5,915 shares during the period. Pathstone Holdings LLC’s holdings in ONEOK were worth $9,241,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Bahl & Gaynor Inc. grew its stake in ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares in the last quarter. Cetera Investment Advisers grew its stake in ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after buying an additional 484,403 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in ONEOK by 3,137.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock valued at $330,000 after buying an additional 392,644 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in ONEOK by 119.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock valued at $53,657,000 after buying an additional 320,967 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated 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 SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OKE shares. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Truist Financial raised their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Price Performance

Shares of NYSE:OKE opened at $116.65 on Friday. The stock has a market cap of $68.14 billion, a PE ratio of 24.40, a PEG ratio of 5.64 and a beta of 1.66. The company’s fifty day moving average is $98.36 and its 200 day moving average is $88.59. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $117.24. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the business earned $0.99 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

About ONEOK

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.