Trueblood Wealth Management LLC Sells 205 Shares of ONEOK, Inc. (NYSE:OKE)

Trueblood Wealth Management LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 1.4% in the fourth quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in OKE. Matrix Trust Co bought a new position in ONEOK in the third quarter worth $29,000. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter worth $30,000. Access Investment Management LLC bought a new position in ONEOK in the third quarter worth $37,000. Values First Advisors Inc. bought a new position in ONEOK in the third quarter worth $44,000. Finally, Fortitude Family Office LLC raised its holdings in ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.4 %

Shares of NYSE:OKE opened at $109.08 on Monday. The stock has a market capitalization of $63.72 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock’s 50-day simple moving average is $106.17 and its two-hundred day simple moving average is $95.74. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its 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 during the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.99 earnings per share. Analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

Wall Street Analysts Forecast Growth

OKE has been the subject of several analyst reports. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.