Keudell Morrison Wealth Management Has $371,000 Stake in ONEOK, Inc. (NYSE:OKE)

Keudell Morrison Wealth Management reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 24.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,071 shares of the utilities provider’s stock after selling 1,329 shares during the quarter. Keudell Morrison Wealth Management’s holdings in ONEOK were worth $371,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new position in ONEOK during the 2nd quarter worth approximately $28,000. Matrix Trust Co bought a new stake in shares of ONEOK in the third quarter worth $29,000. Ridgewood Investments LLC acquired a new position in ONEOK during the second quarter worth $31,000. Manchester Capital Management LLC grew its position in ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new stake in ONEOK in the 3rd quarter valued at $44,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

Shares of OKE stock traded up $0.26 during trading hours on Thursday, reaching $102.46. The company’s stock had a trading volume of 244,552 shares, compared to its average volume of 2,735,792. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $103.12. The firm’s 50 day simple moving average is $94.29 and its 200-day simple moving average is $86.31. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $59.86 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 4.08 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the business earned $0.99 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current 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. This represents a $3.96 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup raised their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Truist Financial increased their price objective on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available at 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.