Glenmede Trust Co. NA Has $27.52 Million Position in ONEOK, Inc. (NYSE:OKE)

Glenmede Trust Co. NA trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 15.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 301,945 shares of the utilities provider’s stock after selling 55,034 shares during the quarter. Glenmede Trust Co. NA’s holdings in ONEOK were worth $27,516,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Townsquare Capital LLC boosted its position in ONEOK by 6.7% during the 3rd quarter. Townsquare Capital LLC now owns 107,342 shares of the utilities provider’s stock worth $9,782,000 after buying an additional 6,767 shares during the period. Principal Street Partners LLC increased its position in ONEOK by 41.3% in the 3rd quarter. Principal Street Partners LLC now owns 6,323 shares of the utilities provider’s stock valued at $525,000 after acquiring an additional 1,848 shares during the period. Avestar Capital LLC bought a new position in shares of ONEOK during the third quarter valued at $216,000. Brooklyn Investment Group lifted its holdings in shares of ONEOK by 3.4% during the third quarter. Brooklyn Investment Group now owns 4,346 shares of the utilities provider’s stock worth $396,000 after purchasing an additional 143 shares during the period. Finally, FMR LLC grew its stake in shares of ONEOK by 11.7% in the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after purchasing an additional 122,362 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 0.8 %

OKE opened at $112.59 on Thursday. The company has a market cap of $65.77 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 5.56 and a beta of 1.66. The company has a fifty day moving average price of $99.98 and a two-hundred day moving average price of $89.62. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OKE shares. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Citigroup raised their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Truist Financial increased their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Company 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.