Apollon Wealth Management LLC Cuts Position in ONEOK, Inc. (NYSE:OKE)

Apollon Wealth Management LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,020 shares of the utilities provider’s stock after selling 772 shares during the period. Apollon Wealth Management LLC’s holdings in ONEOK were worth $3,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its stake in ONEOK by 21.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 844 shares during the last quarter. QRG Capital Management Inc. raised its stake in ONEOK by 3.8% during the 1st quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock worth $437,000 after acquiring an additional 198 shares in the last quarter. Entropy Technologies LP acquired a new stake in ONEOK during the 1st quarter worth $557,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in ONEOK by 28.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock valued at $5,059,000 after acquiring an additional 14,058 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its holdings in shares of ONEOK by 3,750.0% during the first quarter. Eagle Bay Advisors LLC now owns 924 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 900 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Truist Financial increased their price objective on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Citigroup raised their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their price target on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.92.

ONEOK Stock Down 1.1 %

Shares of NYSE:OKE opened at $107.81 on Wednesday. The company has a market capitalization of $62.98 billion, a P/E ratio of 22.55, a P/E/G ratio of 5.44 and a beta of 1.66. The stock’s fifty day simple moving average is $95.19 and its 200-day simple moving average is $86.90. ONEOK, Inc. has a 52-week low of $63.77 and a 52-week high of $109.21. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

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.