ONEOK, Inc. (NYSE:OKE) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,997 shares of the utilities provider’s stock after selling 400 shares during the quarter. Howe & Rusling Inc.’s holdings in ONEOK were worth $1,093,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OKE. Quest Partners LLC acquired a new position in ONEOK in the second quarter valued at $28,000. Matrix Trust Co acquired a new position in ONEOK in the third quarter valued at $29,000. Ridgewood Investments LLC acquired a new position in ONEOK in the second quarter valued at $31,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter valued at $37,000. Finally, Values First Advisors Inc. acquired a new position in ONEOK in the third quarter valued at $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 0.5 %

Shares of OKE opened at $113.10 on Wednesday. The company has a market capitalization of $66.07 billion, a P/E ratio of 23.66, a P/E/G ratio of 5.48 and a beta of 1.66. ONEOK, Inc. has a one year low of $65.49 and a one year high of $113.23. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a 50-day moving average price of $97.38 and a 200 day moving average price of $88.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $0.99 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OKE shares. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Truist Financial upped their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $100.38.

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.