Tidal Investments LLC Sells 982 Shares of ONEOK, Inc. (NYSE:OKE)

Tidal Investments LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.4% during the third quarter, HoldingsChannel.com reports. The fund owned 27,931 shares of the utilities provider’s stock after selling 982 shares during the quarter. Tidal Investments LLC’s holdings in ONEOK were worth $2,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. Quest Partners LLC bought a new stake in shares of ONEOK during the 2nd quarter worth $28,000. Matrix Trust Co purchased a new stake in ONEOK during the third quarter worth about $29,000. Ridgewood Investments LLC bought a new stake in ONEOK in the second quarter worth about $31,000. Access Investment Management LLC purchased a new position in ONEOK in the third quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial upped their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

ONEOK Price Performance

Shares of ONEOK stock opened at $104.03 on Monday. The business has a 50 day moving average of $103.54 and a 200 day moving average of $91.93. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a market cap of $60.77 billion, a PE ratio of 21.76, a P/E/G ratio of 5.26 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 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company posted $0.99 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.81%. ONEOK’s payout ratio is 82.85%.

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.