Todd Asset Management LLC Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Todd Asset Management LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.7% during the fourth quarter, Holdings Channel reports. The firm owned 448,631 shares of the utilities provider’s stock after selling 71,201 shares during the quarter. Todd Asset Management LLC’s holdings in ONEOK were worth $45,043,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of OKE. Ballentine Partners LLC increased its stake in shares of ONEOK by 7.3% during the third quarter. Ballentine Partners LLC now owns 4,707 shares of the utilities provider’s stock worth $429,000 after buying an additional 320 shares during the period. Mediolanum International Funds Ltd increased its stake in shares of ONEOK by 6.4% during the third quarter. Mediolanum International Funds Ltd now owns 16,450 shares of the utilities provider’s stock worth $1,482,000 after buying an additional 992 shares during the period. Arkadios Wealth Advisors increased its stake in shares of ONEOK by 18.8% during the third quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after buying an additional 525 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of ONEOK by 9.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 218,544 shares of the utilities provider’s stock worth $19,916,000 after buying an additional 18,782 shares during the period. Finally, Frank Rimerman Advisors LLC increased its stake in shares of ONEOK by 50.8% during the third quarter. Frank Rimerman Advisors LLC now owns 15,546 shares of the utilities provider’s stock worth $1,417,000 after buying an additional 5,239 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.0 %

Shares of ONEOK stock opened at $98.14 on Tuesday. The company has a market cap of $57.33 billion, a P/E ratio of 20.53, a PEG ratio of 3.77 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. ONEOK, Inc. has a one year low of $72.44 and a one year high of $118.07. The firm has a fifty day moving average of $101.09 and a two-hundred day moving average of $98.96.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.20%. ONEOK’s dividend payout ratio is 86.19%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent research reports. Truist Financial upped their target price 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Barclays assumed coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.