HM Payson & Co. Cuts Stake in ONEOK, Inc. (NYSE:OKE)

HM Payson & Co. lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,608 shares of the utilities provider’s stock after selling 156 shares during the period. HM Payson & Co.’s holdings in ONEOK were worth $161,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OKE. Kieckhefer Group LLC purchased a new position in shares of ONEOK during the fourth quarter valued at $30,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter valued at about $37,000. Canton Hathaway LLC bought a new stake in ONEOK during the fourth quarter valued at about $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter valued at about $48,000. Finally, Versant Capital Management Inc boosted its position in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.2 %

ONEOK stock opened at $89.59 on Monday. 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 52 week low of $76.23 and a 52 week high of $118.07. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The stock has a 50-day moving average price of $100.00 and a 200 day moving average price of $99.46.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.60%. ONEOK’s payout ratio is 79.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.31.

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.