Linscomb Wealth Inc. Has $1.20 Million Stake in ONEOK, Inc. (NYSE:OKE)

Linscomb Wealth Inc. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,149 shares of the utilities provider’s stock after selling 1,139 shares during the period. Linscomb Wealth Inc.’s holdings in ONEOK were worth $1,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its position in shares of ONEOK by 21.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock valued at $381,000 after buying an additional 844 shares in the last quarter. QRG Capital Management Inc. increased its stake in shares of ONEOK by 3.8% in the 1st quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 198 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of ONEOK by 28.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock worth $5,059,000 after buying an additional 14,058 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of ONEOK by 2.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 15,166 shares of the utilities provider’s stock worth $1,216,000 after buying an additional 396 shares during the last quarter. Finally, Nwam LLC acquired a new stake in ONEOK in the first quarter valued at about $201,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on OKE shares. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Truist Financial upped their target price on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Stock Performance

NYSE:OKE opened at $109.81 on Friday. The company has a market capitalization of $64.15 billion, a PE ratio of 22.97, a P/E/G ratio of 5.40 and a beta of 1.66. ONEOK, Inc. has a fifty-two week low of $64.68 and a fifty-two week high of $110.05. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a 50 day simple moving average of $96.54 and a two-hundred day simple moving average of $87.58.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the business earned $0.99 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.61%. ONEOK’s dividend payout ratio is currently 82.85%.

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.