Seneca House Advisors Sells 3,524 Shares of ONEOK, Inc. (NYSE:OKE)

Seneca House Advisors reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,939 shares of the utilities provider’s stock after selling 3,524 shares during the period. ONEOK accounts for approximately 2.6% of Seneca House Advisors’ holdings, making the stock its 19th biggest position. Seneca House Advisors’ holdings in ONEOK were worth $6,088,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. MCF Advisors LLC boosted its holdings in shares of ONEOK by 22.9% during the 1st quarter. MCF Advisors LLC now owns 2,284 shares of the utilities provider’s stock worth $183,000 after buying an additional 425 shares during the period. First Dallas Securities Inc. boosted its holdings in shares of ONEOK by 0.7% during the 1st quarter. First Dallas Securities Inc. now owns 65,272 shares of the utilities provider’s stock worth $5,233,000 after buying an additional 481 shares during the period. Firethorn Wealth Partners LLC bought a new stake in shares of ONEOK during the 1st quarter worth $224,000. Register Financial Advisors LLC bought a new stake in shares of ONEOK during the 1st quarter worth $229,000. Finally, Stokes Capital Advisors LLC boosted its holdings in shares of ONEOK by 5.8% during the 1st quarter. Stokes Capital Advisors LLC now owns 5,491 shares of the utilities provider’s stock worth $440,000 after buying an additional 301 shares during the period. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on OKE. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Stifel Nicolaus increased their price target on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Mizuho increased their price target on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Wells Fargo & Company increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Truist Financial increased their price target on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.80 during mid-day trading on Friday, reaching $81.55. 4,256,159 shares of the stock were exchanged, compared to its average volume of 2,691,205. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The firm has a 50-day simple moving average of $80.15 and a 200 day simple moving average of $75.87. ONEOK, Inc. has a fifty-two week low of $60.52 and a fifty-two week high of $83.31.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter last year, the company posted $2.34 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

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.