Wintrust Investments LLC Has $356,000 Position in ONEOK, Inc. (NYSE:OKE)

Wintrust Investments LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,763 shares of the utilities provider’s stock after selling 333 shares during the period. Wintrust Investments LLC’s holdings in ONEOK were worth $356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in ONEOK by 118,109.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider’s stock worth $1,482,363,000 after acquiring an additional 22,543,516 shares in the last quarter. Cowa LLC raised its holdings in ONEOK by 9,775.0% during the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock worth $3,761,000 after acquiring an additional 5,270,510 shares in the last quarter. Norges Bank bought a new stake in ONEOK during the fourth quarter worth about $139,536,000. Deutsche Bank AG raised its holdings in ONEOK by 23.0% during the first quarter. Deutsche Bank AG now owns 9,842,832 shares of the utilities provider’s stock worth $625,414,000 after acquiring an additional 1,843,027 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in ONEOK by 74.6% during the first quarter. Bank of America Corp DE now owns 2,784,300 shares of the utilities provider’s stock worth $176,914,000 after acquiring an additional 1,189,496 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 1.7 %

Shares of NYSE:OKE opened at $66.63 on Friday. The company has a market capitalization of $38.82 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.72 and a beta of 1.71. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $71.57. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.97 and a quick ratio of 0.66. The business’s 50 day simple moving average is $65.96 and its 200 day simple moving average is $63.75.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.03). The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.96 billion. ONEOK had a return on equity of 26.44% and a net margin of 14.05%. During the same period in the prior year, the company earned $0.96 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.5 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Wednesday, November 1st were issued a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date was Tuesday, October 31st. ONEOK’s dividend payout ratio is presently 70.09%.

Analysts Set New Price Targets

Several research firms recently issued reports on OKE. Scotiabank upgraded ONEOK from a “sector perform” rating to an “outperform” rating in a report on Monday, October 2nd. Raymond James upped their price objective on ONEOK from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Truist Financial lowered ONEOK from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research note on Thursday, November 2nd. Mizuho upped their price objective on ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Finally, Wells Fargo & Company dropped their price objective on ONEOK from $75.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.00.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.