Americana Partners LLC Has $6.91 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Americana Partners LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,798 shares of the utilities provider’s stock after selling 2,503 shares during the quarter. Americana Partners LLC’s holdings in ONEOK were worth $6,907,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Stephens Inc. AR raised its stake in ONEOK by 1.0% during the third quarter. Stephens Inc. AR now owns 41,028 shares of the utilities provider’s stock worth $3,739,000 after acquiring an additional 403 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of ONEOK by 5.9% during the third quarter. Rosenberg Matthew Hamilton now owns 4,119 shares of the utilities provider’s stock worth $375,000 after purchasing an additional 229 shares in the last quarter. US Bancorp DE increased its stake in ONEOK by 2.4% during the 3rd quarter. US Bancorp DE now owns 86,296 shares of the utilities provider’s stock worth $7,864,000 after purchasing an additional 2,012 shares in the last quarter. HM Payson & Co. lifted its position in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 105 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in ONEOK by 37.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider’s stock valued at $526,000 after buying an additional 1,582 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent analyst reports. Scotiabank increased their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Mizuho increased their price target 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. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Truist Financial lifted their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

ONEOK Stock Down 1.8 %

NYSE:OKE traded down $1.77 during midday trading on Friday, reaching $95.11. The company had a trading volume of 677,026 shares, compared to its average volume of 2,725,222. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $98.43. The stock’s fifty day simple moving average is $93.56 and its 200-day simple moving average is $85.72. The firm has a market capitalization of $55.55 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 4.20 and a beta of 1.67. The company has a current ratio of 0.81, a quick ratio of 0.41 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the business posted $0.99 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.04 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.16%. ONEOK’s dividend payout ratio is currently 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.