Rhumbline Advisers Sells 8,918 Shares of ONEOK, Inc. (NYSE:OKE)

Rhumbline Advisers cut its stake in ONEOK, Inc. (NYSE:OKE) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,164,624 shares of the utilities provider’s stock after selling 8,918 shares during the period. Rhumbline Advisers owned about 0.20% of ONEOK worth $94,975,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in OKE. Rise Advisors LLC purchased a new position in shares of ONEOK in the 1st quarter worth about $25,000. LifeSteps Financial Inc. purchased a new position in shares of ONEOK in the first quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in ONEOK in the second quarter valued at approximately $31,000. American National Bank purchased a new stake in shares of ONEOK during the first quarter valued at approximately $32,000. Finally, Manchester Capital Management LLC increased its stake in shares of ONEOK by 66.4% in the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after buying an additional 182 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Truist Financial lifted their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Scotiabank increased their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Finally, Citigroup lifted their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.92.

ONEOK Stock Performance

Shares of NYSE OKE opened at $92.22 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The firm’s 50-day moving average price is $84.62 and its 200-day moving average price is $80.85. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $92.83. The company has a market cap of $53.82 billion, a PE ratio of 21.45, a PEG ratio of 4.61 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the firm posted $1.04 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.05 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is 92.09%.

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.