Pine Valley Investments Ltd Liability Co Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

Pine Valley Investments Ltd Liability Co lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 26,449 shares of the utilities provider’s stock after selling 1,248 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in ONEOK were worth $2,655,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OKE. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the third quarter valued at approximately $47,957,000. Yaupon Capital Management LP purchased a new stake in ONEOK during the third quarter valued at approximately $45,194,000. Strategic Financial Concepts LLC lifted its position in ONEOK by 10,153.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after acquiring an additional 489,821 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in ONEOK by 199.9% during the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after acquiring an additional 465,243 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Barclays initiated coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Finally, UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Down 2.5 %

NYSE:OKE opened at $95.66 on Wednesday. The firm has a market capitalization of $55.88 billion, a P/E ratio of 20.01, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07. The company’s fifty day moving average price is $100.97 and its 200-day moving average price is $99.04. 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 released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.31%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 86.19%.

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.