ONEOK, Inc. (NYSE:OKE) Shares Sold by GoalVest Advisory LLC

GoalVest Advisory LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,830 shares of the utilities provider’s stock after selling 831 shares during the period. GoalVest Advisory LLC’s holdings in ONEOK were worth $1,690,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC lifted its stake in shares of ONEOK by 2.1% in the 4th quarter. Daymark Wealth Partners LLC now owns 5,646 shares of the utilities provider’s stock worth $567,000 after acquiring an additional 114 shares during the period. Advisory Alpha LLC lifted its position in ONEOK by 5.7% in the fourth quarter. Advisory Alpha LLC now owns 4,903 shares of the utilities provider’s stock valued at $492,000 after purchasing an additional 266 shares during the period. MBM Wealth Consultants LLC boosted its holdings in ONEOK by 3.5% in the 4th quarter. MBM Wealth Consultants LLC now owns 5,666 shares of the utilities provider’s stock valued at $577,000 after purchasing an additional 193 shares in the last quarter. Nisa Investment Advisors LLC increased its position in ONEOK by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 177,717 shares of the utilities provider’s stock worth $17,843,000 after purchasing an additional 1,833 shares during the period. Finally, Simon Quick Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $251,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Performance

NYSE OKE opened at $106.28 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The business has a fifty day moving average of $106.21 and a 200-day moving average of $96.21. The stock has a market cap of $62.09 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 4.16 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $5.81 billion. During the same period in the previous year, the firm posted $0.99 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.88%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 82.85%.

ONEOK 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.