ONEOK, Inc. (NYSE:OKE) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 3.3% during the third quarter, Holdings Channel reports. The institutional investor owned 5,434 shares of the utilities provider’s stock after selling 185 shares during the period. Bridges Investment Management Inc.’s holdings in ONEOK were worth $495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. M&G Plc acquired a new stake in shares of ONEOK during the 1st quarter worth $77,634,000. Bahl & Gaynor Inc. raised its position in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after buying an additional 501,216 shares during the period. Cetera Investment Advisers boosted its holdings in ONEOK by 370.1% in the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock valued at $49,327,000 after acquiring an additional 484,403 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in ONEOK by 3,137.6% during the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 392,644 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $107.16 on Friday. ONEOK, Inc. has a 52 week low of $63.77 and a 52 week high of $107.19. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $62.60 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 5.10 and a beta of 1.66. The stock has a 50 day moving average of $94.86 and a 200-day moving average of $86.63.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the company earned $0.99 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKE shares. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Truist Financial increased their price objective on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Barclays lifted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.92.

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.