Dakota Wealth Management Reduces Stake in ONEOK, Inc. (NYSE:OKE)

Dakota Wealth Management reduced its stake in ONEOK, Inc. (NYSE:OKE) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,051 shares of the utilities provider’s stock after selling 872 shares during the quarter. Dakota Wealth Management’s holdings in ONEOK were worth $1,098,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of ONEOK during the 2nd quarter worth $28,000. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter worth $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK during the 2nd quarter worth $31,000. Manchester Capital Management LLC grew its holdings in shares of ONEOK by 66.4% during the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 182 shares during the period. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK during the 3rd quarter worth $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKE shares. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Truist Financial raised their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Tudor Pickering upgraded ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Bank of America started coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Stock Down 0.8 %

OKE stock opened at $96.66 on Monday. The stock has a market cap of $56.42 billion, a P/E ratio of 22.48, a PEG ratio of 4.31 and a beta of 1.67. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.43. The company’s 50 day moving average is $92.85 and its two-hundred day moving average is $85.33.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the business posted $1.04 EPS. Research analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is 92.09%.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.