ONEOK, Inc. (NYSE:OKE) Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,638 shares of the utilities provider’s stock after selling 235 shares during the period. Garner Asset Management Corp’s holdings in ONEOK were worth $2,063,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 3.9% in 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 in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after purchasing an additional 232,043 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares in the last quarter. International Assets Investment Management LLC lifted its stake in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc raised its position in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on OKE. Truist Financial lifted their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Citigroup lifted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Trading Up 0.3 %

NYSE OKE opened at $117.05 on Friday. The stock has a market capitalization of $68.38 billion, a P/E ratio of 24.49, a P/E/G ratio of 5.82 and a beta of 1.66. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm has a 50-day moving average price of $98.87 and a 200 day moving average price of $88.93. 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 posted its quarterly 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 prior year, the company earned $0.99 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.15 EPS 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 given 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 3.38%. ONEOK’s payout ratio is currently 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.