ONEOK, Inc. (NYSE:OKE) Shares Sold by HUB Investment Partners LLC

HUB Investment Partners LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,581 shares of the utilities provider’s stock after selling 6,208 shares during the period. HUB Investment Partners LLC’s holdings in ONEOK were worth $17,327,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OKE. FNY Investment Advisers LLC raised its holdings in ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after buying an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after buying an additional 5,321 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock valued at $1,475,000 after buying an additional 11,160 shares during the period. Simon Quick Advisors LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $251,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of ONEOK by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after purchasing an additional 5,067 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 2.2 %

Shares of ONEOK stock opened at $100.12 on Thursday. The stock has a market capitalization of $62.51 billion, a P/E ratio of 20.95, a PEG ratio of 3.77 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. The stock has a 50 day moving average price of $99.03 and a two-hundred day moving average price of $99.75. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm 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%. Equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.11%. ONEOK’s payout ratio is 79.69%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on OKE shares. Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Scotiabank dropped their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Company 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.