Rodgers Brothers Inc. Sells 500 Shares of ONEOK, Inc. (NYSE:OKE)

Rodgers Brothers Inc. decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,425 shares of the utilities provider’s stock after selling 500 shares during the period. Rodgers Brothers Inc.’s holdings in ONEOK were worth $6,769,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter worth approximately $30,000. Canton Hathaway LLC acquired a new position in ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK during the fourth quarter worth $48,000. VSM Wealth Advisory LLC bought a new stake in shares of ONEOK in the fourth quarter valued at about $50,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK in the fourth quarter valued at about $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of OKE opened at $98.47 on Monday. The business has a 50-day moving average of $98.32 and a 200-day moving average of $100.24. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a market capitalization of $61.48 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Citigroup initiated coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

About ONEOK

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.