ONEOK, Inc. (NYSE:OKE) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,862 shares of the utilities provider’s stock after selling 2,794 shares during the quarter. Amalgamated Bank’s holdings in ONEOK were worth $9,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in ONEOK in the first quarter valued at $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK during the first quarter worth about $26,000. Quest Partners LLC purchased a new position in shares of ONEOK during the second quarter worth about $28,000. Ridgewood Investments LLC acquired a new position in ONEOK in the 2nd quarter valued at about $31,000. Finally, American National Bank purchased a new stake in ONEOK during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.90 on Thursday. The firm has a market capitalization of $54.84 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 4.49 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The business’s 50 day simple moving average is $86.83 and its 200-day simple moving average is $82.22. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $95.26.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the business earned $1.04 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.22%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OKE shares. Royal Bank of Canada lifted their target price on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Citigroup lifted their price objective 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. Truist Financial upped their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Barclays lifted their target price on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $92.38.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

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.