Ingalls & Snyder LLC Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

Ingalls & Snyder LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 12.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,430 shares of the utilities provider’s stock after selling 7,640 shares during the period. Ingalls & Snyder LLC’s holdings in ONEOK were worth $4,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in ONEOK during the 2nd quarter worth approximately $28,000. Matrix Trust Co purchased a new stake in shares of ONEOK during the third quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new position in ONEOK in the 2nd quarter valued at $31,000. Access Investment Management LLC purchased a new position in ONEOK in the 3rd quarter valued at $37,000. Finally, Values First Advisors Inc. acquired a new stake in ONEOK during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.0 %

Shares of ONEOK stock traded up $0.04 on Tuesday, reaching $110.48. The company had a trading volume of 176,436 shares, compared to its average volume of 2,802,751. The firm’s 50 day moving average price is $100.75 and its two-hundred day moving average price is $90.13. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm has a market cap of $64.54 billion, a PE ratio of 23.10, a PEG ratio of 5.75 and a beta of 1.69.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm earned $0.99 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.08 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.58%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OKE shares. Scotiabank increased their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.