Victory Capital Management Inc. Sells 1,577 Shares of ONEOK, Inc. (NYSE:OKE)

Victory Capital Management Inc. reduced its position in ONEOK, Inc. (NYSE:OKE) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 509,316 shares of the utilities provider’s stock after selling 1,577 shares during the period. Victory Capital Management Inc. owned 0.09% of ONEOK worth $51,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC bought a new position in shares of ONEOK in the 3rd quarter valued at about $37,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $40,000. Versant Capital Management Inc grew its position in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in shares of ONEOK during the third quarter worth approximately $57,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.2 %

Shares of OKE stock opened at $89.59 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s 50-day moving average is $100.00 and its 200-day moving average is $99.29. The stock has a market cap of $55.93 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.60%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKE. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

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.