Vista Investment Partners LLC Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

Vista Investment Partners LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 33.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,413 shares of the utilities provider’s stock after selling 12,811 shares during the period. Vista Investment Partners LLC’s holdings in ONEOK were worth $2,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilltop Holdings Inc. lifted its holdings in ONEOK by 7.3% during the 4th quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 1,124 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in ONEOK by 26.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after buying an additional 5,167 shares during the last quarter. Federated Hermes Inc. lifted its holdings in ONEOK by 31.6% during the 4th quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock worth $11,277,000 after buying an additional 38,560 shares during the last quarter. TD Asset Management Inc lifted its holdings in ONEOK by 11.6% during the 4th quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after buying an additional 21,657 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in ONEOK by 32.1% during the 4th quarter. Vontobel Holding Ltd. now owns 72,394 shares of the utilities provider’s stock worth $5,084,000 after buying an additional 17,612 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE:OKE traded up $0.49 during trading on Friday, hitting $87.46. 5,610,574 shares of the stock were exchanged, compared to its average volume of 2,786,708. The company has a fifty day moving average price of $82.39 and a two-hundred day moving average price of $79.09. The company has a market cap of $51.05 billion, a PE ratio of 20.34, a P/E/G ratio of 4.54 and a beta of 1.65. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $87.74.

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

ONEOK Dividend Announcement

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

Analyst Ratings Changes

OKE has been the topic of a number of research analyst reports. Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Truist Financial lifted their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company lifted their target price on ONEOK from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley boosted their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus target price 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.