ONEOK, Inc. (NYSE:OKE) Stock Position Decreased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 95.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,903 shares of the utilities provider’s stock after selling 58,936 shares during the quarter. Icon Wealth Advisors LLC’s holdings in ONEOK were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. acquired a new position in shares of ONEOK during the 1st quarter worth $2,445,000. LRI Investments LLC acquired a new position in ONEOK during the first quarter worth $111,000. Price T Rowe Associates Inc. MD raised its holdings in 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 in the last quarter. SVB Wealth LLC lifted its position in shares of ONEOK by 3.2% in the first quarter. SVB Wealth LLC now owns 21,693 shares of the utilities provider’s stock worth $1,739,000 after buying an additional 674 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of ONEOK by 6.3% during the 1st quarter. Earnest Partners LLC now owns 298,162 shares of the utilities provider’s stock worth $23,904,000 after acquiring an additional 17,784 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. UBS Group lifted their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Truist Financial upped their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $117.05 on Friday. The firm has a market capitalization of $68.38 billion, a P/E ratio of 24.49, a P/E/G ratio of 5.82 and a beta of 1.66. The stock has a fifty day moving average price of $98.87 and a two-hundred day moving average price of $88.93. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week 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.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates 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 earned $0.99 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

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.