Russell Investments Group Ltd. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,648 shares of the utilities provider’s stock after selling 24,074 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of ONEOK worth $21,322,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC bought a new stake in ONEOK during the 4th quarter worth approximately $29,000. WealthPLAN Partners LLC bought a new stake in shares of ONEOK in the 1st quarter valued at $29,000. Grove Bank & Trust boosted its stake in shares of ONEOK by 211.2% in the 1st quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 321 shares during the last quarter. Worth Asset Management LLC bought a new stake in shares of ONEOK in the 1st quarter valued at $30,000. Finally, Quarry LP bought a new stake in shares of ONEOK in the 1st quarter valued at $31,000. 68.87% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
OKE has been the topic of a number of analyst reports. Raymond James upped their price objective on shares of ONEOK from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Truist Financial lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research note on Thursday, November 2nd. Royal Bank of Canada upped their price objective on shares of ONEOK from $69.00 to $76.00 and gave the company a “sector perform” rating in a research note on Thursday, November 16th. StockNews.com started coverage on shares of ONEOK in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Scotiabank upgraded shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, ONEOK has a consensus rating of “Hold” and an average target price of $75.00.
ONEOK Stock Performance
OKE opened at $66.89 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.66 and a debt-to-equity ratio of 1.32. The company’s fifty day moving average price is $66.01 and its two-hundred day moving average price is $63.80. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $71.57. The company has a market cap of $38.97 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.72 and a beta of 1.71.
ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.03). ONEOK had a return on equity of 26.44% and a net margin of 14.05%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the company posted $0.96 EPS. On average, analysts expect that ONEOK, Inc. will post 5.5 EPS for the current fiscal year.
ONEOK Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Wednesday, November 1st were issued a $0.955 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $3.82 annualized dividend and a dividend yield of 5.71%. ONEOK’s dividend payout ratio is currently 70.09%.
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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