Mutual of America Capital Management LLC Trims Position in ONEOK, Inc. (NYSE:OKE)

Mutual of America Capital Management LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 3.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 73,601 shares of the utilities provider’s stock after selling 2,777 shares during the period. Mutual of America Capital Management LLC’s holdings in ONEOK were worth $6,002,000 at the end of the most recent reporting period.

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

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKE. Citigroup lifted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Royal Bank of Canada raised their price target on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Barclays upped their price objective on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, Truist Financial raised their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.38.

ONEOK Stock Performance

Shares of OKE opened at $93.97 on Friday. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $95.28. The stock has a market cap of $54.89 billion, a P/E ratio of 21.85, a PEG ratio of 4.64 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $87.24 and a two-hundred day moving average of $82.42.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

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.