International Assets Investment Management LLC Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

International Assets Investment Management LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 98.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,017 shares of the utilities provider’s stock after selling 3,194,972 shares during the period. International Assets Investment Management LLC’s holdings in ONEOK were worth $3,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chickasaw Capital Management LLC boosted its position in ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after acquiring an additional 263,545 shares during the last quarter. Regent Peak Wealth Advisors LLC purchased a new position in ONEOK in the 4th quarter valued at approximately $207,000. Diversified Trust Co raised its holdings in shares of ONEOK by 40.7% in the 4th quarter. Diversified Trust Co now owns 6,515 shares of the utilities provider’s stock valued at $654,000 after purchasing an additional 1,883 shares in the last quarter. Nordea Investment Management AB increased its stake in ONEOK by 1,219.3% in the fourth quarter. Nordea Investment Management AB now owns 501,636 shares of the utilities provider’s stock valued at $50,289,000 after purchasing an additional 463,614 shares during the last quarter. Finally, Everence Capital Management Inc. lifted its position in ONEOK by 4.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,090 shares of the utilities provider’s stock valued at $2,218,000 after acquiring an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OKE shares. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Royal Bank of Canada lifted 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. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Trading Up 0.2 %

Shares of OKE stock traded up $0.19 during trading hours on Wednesday, hitting $101.80. 257,019 shares of the company were exchanged, compared to its average volume of 2,045,601. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. 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 firm has a market cap of $59.47 billion, a P/E ratio of 21.30, a P/E/G ratio of 5.24 and a beta of 1.70. The company has a 50 day simple moving average of $105.22 and a two-hundred day simple moving average of $94.49.

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 the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.89%. ONEOK’s payout ratio is presently 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.