Trueblood Wealth Management LLC Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Trueblood Wealth Management LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,662 shares of the utilities provider’s stock after selling 205 shares during the quarter. Trueblood Wealth Management LLC’s holdings in ONEOK were worth $1,472,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OKE. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the third quarter valued at approximately $47,957,000. Yaupon Capital Management LP purchased a new position in ONEOK in the 3rd quarter worth approximately $45,194,000. Finally, National Bank of Canada FI grew its stake in ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after buying an additional 465,243 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. 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 target for the company. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Trading Up 0.4 %

NYSE:OKE opened at $109.08 on Monday. The company has a fifty day moving average of $106.17 and a 200 day moving average of $95.74. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a P/E/G ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

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.