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

SL Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,405 shares of the utilities provider’s stock after selling 385 shares during the quarter. ONEOK accounts for 6.2% of SL Advisors LLC’s holdings, making the stock its 7th largest holding. SL Advisors LLC’s holdings in ONEOK were worth $3,755,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in ONEOK during the 2nd quarter worth $28,000. Matrix Trust Co acquired a new position in shares of ONEOK in the third quarter worth approximately $29,000. Access Investment Management LLC acquired a new stake in ONEOK during the 3rd quarter valued at approximately $37,000. Values First Advisors Inc. bought a new position in ONEOK during the 3rd quarter worth approximately $44,000. Finally, Fortitude Family Office LLC boosted its stake in shares of ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Barclays raised their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

ONEOK Price Performance

NYSE:OKE traded up $0.52 during mid-day trading on Wednesday, hitting $102.13. 823,114 shares of the stock traded hands, compared to its average volume of 2,173,656. The business’s 50-day moving average price is $105.22 and its 200 day moving average price is $94.49. The company has a market cap of $59.66 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 5.24 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. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) 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.