Profund Advisors LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 9.4% in the second quarter, Holdings Channel reports. The fund owned 28,541 shares of the utilities provider’s stock after selling 2,964 shares during the period. Profund Advisors LLC’s holdings in ONEOK were worth $1,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Resurgent Financial Advisors LLC bought a new stake in ONEOK in the fourth quarter valued at about $29,000. WealthPLAN Partners LLC bought a new stake in ONEOK during the first quarter worth about $29,000. Grove Bank & Trust grew its stake in ONEOK by 211.2% during the first quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock worth $30,000 after buying an additional 321 shares during the last quarter. Worth Asset Management LLC bought a new stake in ONEOK during the first quarter worth about $30,000. Finally, Quarry LP bought a new stake in ONEOK during the first quarter worth about $31,000. Institutional investors and hedge funds own 68.87% of the company’s stock.
Analysts Set New Price Targets
OKE has been the topic of several research analyst reports. Truist Financial cut shares of 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. Scotiabank raised shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research note on Monday, October 2nd. Wells Fargo & Company decreased their price objective on shares of ONEOK from $75.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, August 11th. Mizuho upped their target price on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, Royal Bank of Canada upped their target price on shares of ONEOK from $69.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.00.
ONEOK Stock Performance
OKE stock opened at $66.89 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.97 and a debt-to-equity ratio of 1.32. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $71.57. The business’s fifty day moving average is $66.01 and its 200-day moving average is $63.80. The company has a market cap of $38.97 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.71.
ONEOK (NYSE:OKE – Get Free Report) last issued its 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 the consensus estimate 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 posted $0.96 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.5 EPS for the current year.
ONEOK Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Wednesday, November 1st were paid a $0.955 dividend. This represents a $3.82 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend was Tuesday, October 31st. ONEOK’s payout ratio is presently 70.09%.
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.
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