Capital Square LLC Sells 500 Shares of ONEOK, Inc. (NYSE:OKE)

Capital Square LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 13.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,110 shares of the utilities provider’s stock after selling 500 shares during the period. Capital Square LLC’s holdings in ONEOK were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OKE. Truvestments Capital LLC bought a new stake in ONEOK during the third quarter worth approximately $230,000. Brown Brothers Harriman & Co. boosted its holdings in shares of ONEOK by 10.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,401 shares of the utilities provider’s stock worth $583,000 after purchasing an additional 603 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $990,000. Daiwa Securities Group Inc. raised its holdings in ONEOK by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 84,908 shares of the utilities provider’s stock valued at $7,737,000 after buying an additional 7,280 shares during the period. Finally, Summit Trail Advisors LLC lifted its position in ONEOK by 23.4% in the third quarter. Summit Trail Advisors LLC now owns 8,640 shares of the utilities provider’s stock worth $787,000 after buying an additional 1,637 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 1.6 %

Shares of NYSE:OKE traded down $1.87 during trading hours on Monday, hitting $115.18. The company’s stock had a trading volume of 635,770 shares, compared to its average volume of 2,767,153. The firm’s fifty day moving average price is $98.87 and its 200 day moving average price is $89.00. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07. The company has a market capitalization of $67.29 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 5.84 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.44%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Citigroup upped their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

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.