ONEOK, Inc. (NYSE:OKE) Stock Position Decreased by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,941 shares of the utilities provider’s stock after selling 236 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in ONEOK were worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV increased its stake in shares of ONEOK by 0.8% in the third quarter. KBC Group NV now owns 45,383 shares of the utilities provider’s stock worth $4,136,000 after purchasing an additional 376 shares during the period. OneDigital Investment Advisors LLC grew its position in ONEOK by 5.8% during the third quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider’s stock worth $762,000 after buying an additional 455 shares in the last quarter. CIBC Asset Management Inc grew its position in ONEOK by 7.2% during the third quarter. CIBC Asset Management Inc now owns 100,069 shares of the utilities provider’s stock worth $9,119,000 after buying an additional 6,746 shares in the last quarter. Empirical Finance LLC grew its position in ONEOK by 8.2% during the third quarter. Empirical Finance LLC now owns 10,903 shares of the utilities provider’s stock worth $994,000 after buying an additional 830 shares in the last quarter. Finally, Empowered Funds LLC grew its position in ONEOK by 8.8% during the third quarter. Empowered Funds LLC now owns 9,884 shares of the utilities provider’s stock worth $901,000 after buying an additional 797 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OKE shares. Truist Financial lifted 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Finally, Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Seven research 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 MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Performance

ONEOK stock opened at $96.52 on Monday. 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 $76.23 and a 1-year high of $118.07. The firm has a market capitalization of $60.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s 50 day simple moving average is $99.21 and its 200 day simple moving average is $99.65.

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, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. As a group, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.27%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 79.69%.

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.