ONEOK, Inc. (NYSE:OKE) Holdings Cut by Del Sette Capital Management LLC

Del Sette Capital Management LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,649 shares of the utilities provider’s stock after selling 3,962 shares during the quarter. ONEOK makes up 1.8% of Del Sette Capital Management LLC’s portfolio, making the stock its 19th largest holding. Del Sette Capital Management LLC’s holdings in ONEOK were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission.

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

ONEOK Trading Down 1.2 %

ONEOK stock opened at $99.45 on Friday. ONEOK, Inc. has a 52 week low of $76.23 and a 52 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. The firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a 50 day moving average price of $98.94 and a 200 day moving average price of $99.86.

ONEOK (NYSE:OKE) last issued 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 analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS 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 paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKE. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Truist Financial raised 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. Wells Fargo & Company dropped their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.31.

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.