Vanguard Personalized Indexing Management LLC Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Vanguard Personalized Indexing Management LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 29,776 shares of the utilities provider’s stock after selling 1,553 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in ONEOK were worth $2,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Park Avenue Securities LLC bought a new stake in shares of ONEOK in the third quarter worth $365,000. Allspring Global Investments Holdings LLC increased its holdings in ONEOK by 1.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 177,455 shares of the utilities provider’s stock valued at $11,256,000 after buying an additional 2,850 shares during the last quarter. Fifth Third Bancorp raised its stake in ONEOK by 35.3% during the third quarter. Fifth Third Bancorp now owns 18,768 shares of the utilities provider’s stock valued at $1,190,000 after buying an additional 4,894 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of ONEOK in the 3rd quarter worth approximately $27,713,000. Finally, Allworth Financial LP increased its holdings in shares of ONEOK by 101.9% in the 3rd quarter. Allworth Financial LP now owns 6,534 shares of the utilities provider’s stock valued at $414,000 after acquiring an additional 3,297 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Truist Financial increased their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. US Capital Advisors downgraded ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. Raymond James raised their target price on ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Stifel Nicolaus boosted their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and an average price target of $83.58.

ONEOK Stock Up 0.8 %

OKE opened at $82.24 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $82.82. The business has a 50 day moving average of $79.15 and a 200-day moving average of $72.80. The stock has a market capitalization of $48.00 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 4.37 and a beta of 1.64.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 4.82%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.