Chicago Partners Investment Group LLC Cuts Holdings in ONEOK, Inc. (NYSE:OKE)

Chicago Partners Investment Group LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,781 shares of the utilities provider’s stock after selling 3,767 shares during the quarter. ONEOK accounts for approximately 0.9% of Chicago Partners Investment Group LLC’s investment portfolio, making the stock its 25th biggest holding. Chicago Partners Investment Group LLC’s holdings in ONEOK were worth $27,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Everett Harris & Co. CA lifted its holdings in ONEOK by 1.4% during the fourth quarter. Everett Harris & Co. CA now owns 107,621 shares of the utilities provider’s stock worth $10,805,000 after acquiring an additional 1,472 shares during the period. Clear Creek Financial Management LLC increased its position in shares of ONEOK by 5.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 5,807 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 324 shares during the last quarter. Custom Index Systems LLC bought a new stake in shares of ONEOK during the 4th quarter worth $276,000. Heck Capital Advisors LLC bought a new position in ONEOK during the fourth quarter valued at about $1,286,000. Finally, Oxler Private Wealth LLC increased its holdings in ONEOK by 0.9% during the fourth quarter. Oxler Private Wealth LLC now owns 47,156 shares of the utilities provider’s stock worth $4,734,000 after buying an additional 427 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research note on Wednesday, December 18th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Down 2.9 %

OKE stock opened at $96.95 on Friday. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The stock has a market cap of $56.64 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company’s 50 day moving average is $104.92 and its 200 day moving average is $96.97.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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). The company had revenue of $5.02 billion for 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 quarter last year, the business posted $0.99 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio is presently 82.85%.

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.