Granite Group Advisors LLC Decreases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Granite Group Advisors LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,444 shares of the utilities provider’s stock after selling 220 shares during the period. Granite Group Advisors LLC’s holdings in ONEOK were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. increased its holdings in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares in the last quarter. Morton Capital Management LLC CA grew its stake in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares in the last quarter. HM Payson & Co. grew its stake in shares of ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares in the last quarter. Finally, Bill Few Associates Inc. grew its stake in shares of ONEOK by 3.9% in the 4th quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider’s stock worth $278,000 after buying an additional 105 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.5 %

Shares of NYSE OKE opened at $104.42 on Monday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a market cap of $61.00 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business has a fifty day simple moving average of $106.00 and a 200-day simple moving average of $96.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the company posted $0.99 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 3.95%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 82.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

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.