Cornell Pochily Investment Advisors Inc. Sells 569 Shares of ONEOK, Inc. (NYSE:OKE)

Cornell Pochily Investment Advisors Inc. trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,962 shares of the utilities provider’s stock after selling 569 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in ONEOK were worth $699,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of ONEOK by 0.4% in the 2nd quarter. AQR Capital Management LLC now owns 93,486 shares of the utilities provider’s stock valued at $7,566,000 after buying an additional 383 shares in the last quarter. Aviso Wealth Management increased its position in shares of ONEOK by 1.7% during the second quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock worth $637,000 after purchasing an additional 134 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of ONEOK by 1.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,052,296 shares of the utilities provider’s stock valued at $85,815,000 after purchasing an additional 10,241 shares during the last quarter. Creative Planning boosted its position in shares of ONEOK by 5.0% in the 2nd quarter. Creative Planning now owns 233,564 shares of the utilities provider’s stock worth $19,047,000 after purchasing an additional 11,126 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in ONEOK by 61.0% during the 2nd quarter. NewEdge Advisors LLC now owns 145,132 shares of the utilities provider’s stock valued at $11,836,000 after buying an additional 54,978 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OKE. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Performance

Shares of NYSE OKE opened at $104.42 on Monday. The company has a market capitalization of $61.00 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company’s fifty day moving average price is $106.00 and its 200 day moving average price is $96.70. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results 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 firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations 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 company earned $0.99 earnings per share. On average, research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.95%. ONEOK’s dividend payout ratio (DPR) is 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.