Exchange Traded Concepts LLC Sells 11,490 Shares of ONEOK, Inc. (NYSE:OKE)

Exchange Traded Concepts LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 481,305 shares of the utilities provider’s stock after selling 11,490 shares during the quarter. ONEOK accounts for approximately 1.0% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 14th biggest holding. Exchange Traded Concepts LLC owned 0.08% of ONEOK worth $48,323,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Matrix Trust Co purchased a new stake in shares of ONEOK during the 3rd quarter valued at $29,000. Kieckhefer Group LLC purchased a new position in shares of ONEOK during the 4th quarter valued at $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the 3rd quarter worth about $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the third quarter valued at about $44,000. Finally, Fortitude Family Office LLC lifted its holdings in ONEOK by 37.4% during the third 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. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the subject of several analyst reports. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price target 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. Truist Financial lifted 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. Finally, Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Price Performance

Shares of OKE opened at $104.97 on Friday. The firm’s 50-day simple moving average is $106.17 and its two-hundred day simple moving average is $96.28. The stock has a market cap of $61.32 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.92%. ONEOK’s dividend payout ratio is presently 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.