L & S Advisors Inc Reduces Position in ONEOK, Inc. (NYSE:OKE)

L & S Advisors Inc reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 40,666 shares of the utilities provider’s stock after selling 308 shares during the period. L & S Advisors Inc’s holdings in ONEOK were worth $4,083,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK during the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC purchased a new stake in shares of ONEOK during the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK in the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.2 %

Shares of NYSE:OKE opened at $98.47 on Friday. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. 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 firm’s 50-day simple moving average is $98.32 and its 200-day simple moving average is $100.17. The company has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OKE shares. Barclays reduced their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank dropped their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Company 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.