ONEOK, Inc. (NYSE:OKE) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its stake in ONEOK, Inc. (NYSE:OKE) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,229 shares of the utilities provider’s stock after selling 805 shares during the quarter. Van ECK Associates Corp’s holdings in ONEOK were worth $12,765,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter valued at $25,000. LifeSteps Financial Inc. acquired a new position in shares of ONEOK during the 1st quarter valued at $26,000. Beacon Capital Management LLC lifted its holdings in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter valued at $32,000. Finally, American National Bank acquired a new position in shares of ONEOK during the 1st quarter valued at $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Wells Fargo & Company raised their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Stifel Nicolaus boosted their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Truist Financial raised their price target on ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Trading Down 0.9 %

ONEOK stock traded down $0.71 during midday trading on Friday, reaching $82.09. The stock had a trading volume of 562,695 shares, compared to its average volume of 2,809,458. The firm’s fifty day simple moving average is $80.29 and its two-hundred day simple moving average is $76.16. ONEOK, Inc. has a twelve month low of $60.52 and a twelve month high of $83.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The firm has a market cap of $47.91 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 4.44 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates 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 business posted $2.34 EPS. Equities analysts anticipate that ONEOK, Inc. will post 4.95 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.82%. ONEOK’s dividend payout ratio 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.