ONEOK, Inc. (NYSE:OKE) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its position in ONEOK, Inc. (NYSE:OKE) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,591 shares of the utilities provider’s stock after selling 1,431 shares during the quarter. Tredje AP fonden’s holdings in ONEOK were worth $7,469,000 at the end of the most recent quarter.

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

ONEOK Price Performance

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

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company posted $1.04 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OKE. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Truist Financial increased their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.38.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.