SageView Advisory Group LLC Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

SageView Advisory Group LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 30.1% in the 3rd quarter, Holdings Channel reports. The fund owned 2,385 shares of the utilities provider’s stock after selling 1,026 shares during the period. SageView Advisory Group LLC’s holdings in ONEOK were worth $217,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of ONEOK by 3.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after buying an additional 232,043 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after acquiring an additional 132,326 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.0 %

ONEOK stock opened at $109.00 on Friday. The firm has a 50-day moving average price of $102.43 and a two-hundred day moving average price of $91.02. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm has a market capitalization of $63.68 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 5.48 and a beta of 1.69. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business 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 quarter in the prior year, the firm posted $0.99 earnings per share. Sell-side analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.63%. ONEOK’s payout ratio is 82.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OKE shares. 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 research report on Friday, August 30th. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $101.00.

ONEOK Profile

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.