LPL Financial LLC Sells 3,903 Shares of ONEOK, Inc. (NYSE:OKE)

LPL Financial LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,247,642 shares of the utilities provider’s stock after selling 3,903 shares during the quarter. LPL Financial LLC’s holdings in ONEOK were worth $113,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1832 Asset Management L.P. purchased a new position in shares of ONEOK in the first quarter valued at about $2,445,000. LRI Investments LLC purchased a new stake in ONEOK during the 1st quarter valued at approximately $111,000. Price T Rowe Associates Inc. MD raised its position in shares of ONEOK by 1.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 792,631 shares of the utilities provider’s stock valued at $63,546,000 after buying an additional 11,982 shares during the last quarter. Energy Income Partners LLC lifted its holdings in shares of ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after buying an additional 319,487 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its position in shares of ONEOK by 2.0% during the first quarter. Beaird Harris Wealth Management LLC now owns 52,538 shares of the utilities provider’s stock worth $4,212,000 after acquiring an additional 1,012 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on OKE shares. Truist Financial boosted their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. UBS Group raised their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Stock Up 0.2 %

Shares of NYSE:OKE opened at $117.04 on Friday. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $68.37 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 5.64 and a beta of 1.66. The business has a 50 day simple moving average of $98.87 and a two-hundred day simple moving average of $88.86.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business posted $0.99 earnings per share. On average, equities analysts predict that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.38%. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.