ONEOK, Inc. (NYSE:OKE) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 7.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,962 shares of the utilities provider’s stock after selling 569 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in ONEOK were worth $699,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. National Pension Service raised its stake in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. raised its position in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares in the last quarter. Sageworth Trust Co acquired a new position in ONEOK during the third quarter worth about $568,000. Finally, FNY Investment Advisers LLC grew its stake in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OKE shares. Royal Bank of Canada raised their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Finally, US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Stock Down 0.5 %

Shares of NYSE OKE opened at $104.42 on Monday. The business has a 50-day moving average of $106.00 and a two-hundred day moving average of $96.70. The company has a market capitalization of $61.00 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted 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). The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm earned $0.99 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business 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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. 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.