Cooper Financial Group Sells 4,011 Shares of ONEOK, Inc. (NYSE:OKE)

Cooper Financial Group reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 39.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,246 shares of the utilities provider’s stock after selling 4,011 shares during the quarter. Cooper Financial Group’s holdings in ONEOK were worth $509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rise Advisors LLC bought a new position in shares of ONEOK during the 1st quarter valued at approximately $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK during the 1st quarter worth about $26,000. HHM Wealth Advisors LLC bought a new stake in ONEOK in the fourth quarter worth about $32,000. American National Bank bought a new stake in ONEOK in the first quarter worth about $32,000. Finally, Security National Bank bought a new stake in ONEOK in the fourth quarter worth about $35,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial raised their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Mizuho lifted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price target on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.50.

ONEOK Stock Up 0.7 %

NYSE OKE traded up $0.57 on Tuesday, hitting $85.75. The stock had a trading volume of 973,198 shares, compared to its average volume of 2,763,452. The business’s fifty day moving average price is $81.78 and its 200 day moving average price is $78.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $86.20. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings results 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. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company earned $1.04 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.02 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) 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.