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

ORG Partners LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 20.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,588 shares of the utilities provider’s stock after selling 1,189 shares during the period. ORG Partners LLC’s holdings in ONEOK were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after buying an additional 1,128,066 shares during the last quarter. MONECO Advisors LLC grew its stake in ONEOK by 66.9% during the 4th quarter. MONECO Advisors LLC now owns 6,160 shares of the utilities provider’s stock valued at $433,000 after purchasing an additional 2,469 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in ONEOK during the 4th quarter worth approximately $1,532,000. Kapitalo Investimentos Ltda acquired a new position in shares of ONEOK in the 4th quarter valued at approximately $103,000. Finally, CWM LLC boosted its stake in shares of ONEOK by 1.8% during the 1st quarter. CWM LLC now owns 37,603 shares of the utilities provider’s stock valued at $3,015,000 after buying an additional 676 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

NYSE OKE opened at $97.50 on Tuesday. The company has a 50-day moving average price of $90.81 and a two-hundred day moving average price of $84.26. The stock has a market cap of $56.91 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. 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 52 week low of $63.33 and a 52 week high of $98.01.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $5.52 billion. During the same quarter in the previous year, the business earned $1.04 EPS. Analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.99 dividend. 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 4.06%. ONEOK’s dividend payout ratio is presently 92.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OKE shares. Truist Financial lifted their price target 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. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Barclays increased their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’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 value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

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.