Capital Advisors Inc. OK Decreases Stake in ONEOK, Inc. (NYSE:OKE)

Capital Advisors Inc. OK cut its position in ONEOK, Inc. (NYSE:OKE) by 69.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,376 shares of the utilities provider’s stock after selling 153,969 shares during the period. Capital Advisors Inc. OK’s holdings in ONEOK were worth $6,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Matrix Trust Co purchased a new stake in ONEOK during the 3rd quarter worth about $29,000. Quest Partners LLC acquired a new position in ONEOK in the second quarter valued at $28,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK during the second quarter worth about $31,000. Manchester Capital Management LLC increased its position in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the 3rd quarter valued at about $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKE. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial raised their price objective on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Finally, Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $96.54.

ONEOK Stock Performance

Shares of OKE stock opened at $93.36 on Friday. The stock has a fifty day moving average price of $93.66 and a 200 day moving average price of $85.82. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.41 and a current ratio of 0.81. The stock has a market cap of $54.53 billion, a PE ratio of 19.53, a P/E/G ratio of 4.20 and a beta of 1.67. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.43.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.04 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.24%. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction 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 SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

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.