Russell Investments Group Ltd. Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

Russell Investments Group Ltd. lowered its position in ONEOK, Inc. (NYSE:OKE) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,648 shares of the utilities provider’s stock after selling 24,074 shares during the period. Russell Investments Group Ltd. owned about 0.08% of ONEOK worth $21,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. First Command Bank raised its holdings in shares of ONEOK by 401.0% in the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares during the last quarter. Miller Wealth Advisors LLC purchased a new stake in shares of ONEOK in the first quarter valued at about $29,000. WealthPLAN Partners LLC purchased a new stake in shares of ONEOK in the first quarter valued at about $29,000. Resurgent Financial Advisors LLC bought a new position in ONEOK during the fourth quarter valued at about $29,000. Finally, Grove Bank & Trust grew its position in ONEOK by 211.2% during the first quarter. Grove Bank & Trust now owns 473 shares of the utilities provider’s stock valued at $30,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on OKE shares. Scotiabank upgraded shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Monday, October 2nd. StockNews.com started coverage on shares of ONEOK in a research report on Thursday, October 5th. They set a “hold” rating for the company. Mizuho increased their price target on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Pickering Energy Partners assumed coverage on shares of ONEOK in a research report on Tuesday, October 3rd. They set an “underperform” rating for the company. Finally, Truist Financial lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $68.00 target price for the company. in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.00.

ONEOK Trading Up 0.4 %

Shares of ONEOK stock opened at $66.89 on Tuesday. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $71.57. The company has a market cap of $38.97 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.72 and a beta of 1.71. The company has a current ratio of 0.97, a quick ratio of 0.66 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $66.01 and its 200-day moving average price is $63.80.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.03). ONEOK had a return on equity of 26.44% and a net margin of 14.05%. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the previous year, the company posted $0.96 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.5 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st were paid a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend was Tuesday, October 31st. ONEOK’s dividend payout ratio is currently 70.09%.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.