Per Stirling Capital Management LLC. Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

Per Stirling Capital Management LLC. lowered its position in ONEOK, Inc. (NYSE:OKE) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,100 shares of the utilities provider’s stock after selling 349 shares during the quarter. Per Stirling Capital Management LLC.’s holdings in ONEOK were worth $685,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OKE. Creative Financial Designs Inc. ADV grew its holdings in shares of ONEOK by 4.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 3,357 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 157 shares during the last quarter. Alpha Cubed Investments LLC grew its stake in ONEOK by 3.6% in the 2nd quarter. Alpha Cubed Investments LLC now owns 4,570 shares of the utilities provider’s stock worth $282,000 after acquiring an additional 159 shares in the last quarter. Silver Lake Advisory LLC increased its position in shares of ONEOK by 1.4% during the second quarter. Silver Lake Advisory LLC now owns 11,410 shares of the utilities provider’s stock worth $704,000 after acquiring an additional 160 shares during the period. King Luther Capital Management Corp raised its stake in shares of ONEOK by 2.4% during the second quarter. King Luther Capital Management Corp now owns 6,793 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 162 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings in shares of ONEOK by 0.9% in the second quarter. Wealthspire Advisors LLC now owns 19,296 shares of the utilities provider’s stock valued at $1,191,000 after purchasing an additional 171 shares during the period. Institutional investors own 68.87% of the company’s stock.

ONEOK Stock Down 0.3 %

NYSE OKE traded down $0.17 during trading on Tuesday, hitting $66.72. The company’s stock had a trading volume of 807,984 shares, compared to its average volume of 3,427,153. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $71.57. The company has a market cap of $38.87 billion, a PE ratio of 12.27, a P/E/G ratio of 1.72 and a beta of 1.71. 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 $66.01 and its 200-day simple moving average is $63.80.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.03). The company had revenue of $4.19 billion during 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 quarter last year, the business earned $0.96 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.5 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OKE shares. StockNews.com initiated coverage on ONEOK in a report on Thursday, October 5th. They issued a “hold” rating for the company. Scotiabank raised shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Monday, October 2nd. Pickering Energy Partners began coverage on shares of ONEOK in a research note on Tuesday, October 3rd. They set an “underperform” rating on the stock. Raymond James upped their target price on ONEOK from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Finally, Truist Financial downgraded ONEOK from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $75.00.

ONEOK Company Profile

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.