ONEOK, Inc. (NYSE:OKE) Stake Reduced by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 17.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,515 shares of the utilities provider’s stock after selling 515 shares during the quarter. Sentry Investment Management LLC’s holdings in ONEOK were worth $205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in ONEOK in the 4th quarter valued at about $297,948,000. First Eagle Investment Management LLC raised its holdings in shares of ONEOK by 77.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,086,559 shares of the utilities provider’s stock valued at $216,738,000 after buying an additional 1,351,626 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after buying an additional 1,128,066 shares during the period. M&G Plc bought a new position in ONEOK in the 1st quarter worth approximately $77,634,000. Finally, Kayne Anderson Capital Advisors LP increased its position in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after acquiring an additional 825,464 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Trading Down 1.6 %

NYSE:OKE opened at $90.24 on Thursday. The stock has a fifty day simple moving average of $85.79 and a 200 day simple moving average of $81.58. 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 $52.67 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 4.51 and a beta of 1.67. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $93.00.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the previous year, the business earned $1.04 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.39%. ONEOK’s payout ratio is presently 92.09%.

Analyst Ratings Changes

A number of brokerages have issued reports on OKE. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. 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. Citigroup upped their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho raised their price objective 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. Finally, Truist Financial lifted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average price target of $89.92.

ONEOK 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.