ONEOK, Inc. (NYSE:OKE) Stake Trimmed by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in ONEOK, Inc. (NYSE:OKE) by 81.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,144 shares of the utilities provider’s stock after selling 65,927 shares during the quarter. Edgestream Partners L.P.’s holdings in ONEOK were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of OKE. Wellington Management Group LLP increased its stake 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 purchasing an additional 1,128,066 shares in the last quarter. M&G Plc acquired a new stake in ONEOK during the 1st quarter worth about $77,634,000. Kayne Anderson Capital Advisors LP boosted its position in ONEOK by 28.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after acquiring an additional 825,464 shares during the period. Westwood Holdings Group Inc. boosted its position in ONEOK by 36.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock worth $145,782,000 after acquiring an additional 552,824 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in ONEOK by 3,648.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OKE shares. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada raised their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Mizuho raised their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. 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 report on Monday, September 16th. Finally, Truist Financial lifted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. One equities 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.38.

ONEOK Stock Up 0.2 %

Shares of ONEOK stock opened at $93.97 on Friday. The stock has a market capitalization 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 quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average price of $87.24 and a two-hundred day moving average price of $82.42. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $95.28.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm 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 quarter in the prior year, the business earned $1.04 earnings per share. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

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