ONEOK, Inc. (NYSE:OKE) Shares Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 29.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 121,647 shares of the utilities provider’s stock after selling 51,305 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in ONEOK were worth $10,347,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in ONEOK during the first quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK in the first quarter valued at about $26,000. HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at about $32,000. American National Bank acquired a new stake in shares of ONEOK in the first quarter valued at about $32,000. Finally, Security National Bank acquired a new stake in shares of ONEOK in the fourth quarter valued at about $35,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 0.6 %

OKE stock traded up $0.49 during mid-day trading on Friday, hitting $87.46. 5,610,574 shares of the company were exchanged, compared to its average volume of 2,786,708. 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 firm has a market capitalization of $51.08 billion, a P/E ratio of 20.34, a PEG ratio of 4.54 and a beta of 1.65. The business has a fifty day simple moving average of $82.39 and a 200-day simple moving average of $79.09. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $87.74.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $1.04 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OKE shares. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Morgan Stanley increased their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Truist Financial increased their target price on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Mizuho upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $85.50.

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.