Federated Hermes Inc. Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

Federated Hermes Inc. decreased its position in ONEOK, Inc. (NYSE:OKE) by 84.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,727 shares of the utilities provider’s stock after selling 75,459 shares during the period. Federated Hermes Inc.’s holdings in ONEOK were worth $1,119,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of OKE. Hilltop Holdings Inc. boosted its position in ONEOK by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 1,124 shares in the last quarter. TD Asset Management Inc lifted its position in shares of ONEOK by 11.6% during the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock valued at $14,610,000 after buying an additional 21,657 shares in the last quarter. Norden Group LLC grew its stake in ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after acquiring an additional 131,441 shares during the period. Wellington Management Group LLP increased its holdings in ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after acquiring an additional 1,128,066 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in ONEOK by 8.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock worth $8,510,000 after acquiring an additional 9,722 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKE. Barclays boosted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their price objective on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $92.38.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was 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 the SEC website. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Trading Up 0.2 %

Shares of ONEOK stock opened at $93.97 on Friday. The stock has a 50 day moving average of $87.24 and a 200 day moving average of $82.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a market capitalization of $54.89 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.64 and a beta of 1.67. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $95.28.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations 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 prior year, the business posted $1.04 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

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