Linscomb Wealth Inc. Cuts Stake in ONEOK, Inc. (NYSE:OKE)

Linscomb Wealth Inc. cut its holdings in ONEOK, Inc. (NYSE:OKE) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,665 shares of the utilities provider’s stock after selling 2,484 shares during the quarter. Linscomb Wealth Inc.’s holdings in ONEOK were worth $1,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $30,000. Access Investment Management LLC purchased a new position in ONEOK during the third quarter valued at approximately $37,000. Canton Hathaway LLC bought a new position in ONEOK in the fourth quarter worth approximately $40,000. Versant Capital Management Inc lifted its holdings in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in ONEOK during the 3rd quarter valued at $57,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OKE shares. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Citigroup began coverage on shares of ONEOK in a research note on Friday. They set a “buy” rating and a $110.00 price objective for the company. Finally, Truist Financial raised their target price 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. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Stock Performance

Shares of OKE stock opened at $100.29 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a fifty day moving average of $100.91 and a 200 day moving average of $99.10. The firm has a market capitalization of $58.59 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $74.39 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.11%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 86.19%.

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.