Gentry Private Wealth LLC Has $501,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Gentry Private Wealth LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,503 shares of the utilities provider’s stock after selling 97 shares during the quarter. Gentry Private Wealth LLC’s holdings in ONEOK were worth $501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OKE. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after purchasing an additional 232,043 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares in the last quarter. International Assets Investment Management LLC raised its stake in 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 valued at $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc raised its stake in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’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 legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Performance

NYSE:OKE opened at $117.05 on Friday. The stock has a market cap of $68.38 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 5.82 and a beta of 1.66. 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’s 50-day moving average is $98.87 and its 200-day moving average is $88.93. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is presently 82.85%.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Truist Financial boosted their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

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.