Norden Group LLC Sells 263 Shares of ONEOK, Inc. (NYSE:OKE)

Norden Group LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,911 shares of the utilities provider’s stock after selling 263 shares during the quarter. Norden Group LLC’s holdings in ONEOK were worth $995,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OKE. Astoria Portfolio Advisors LLC. increased its stake in ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after buying an additional 96 shares during the period. McAdam LLC grew its stake in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC increased its position in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after acquiring an additional 100 shares during the period. Mutual Advisors LLC raised its stake in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA boosted its holdings in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKE has been the topic of several research reports. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Truist Financial upped their price objective 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. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup initiated coverage on shares of ONEOK in a report on Friday. They issued a “buy” rating and a $110.00 price target for the company. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Price Performance

Shares of OKE opened at $100.29 on Monday. The company has a 50 day moving average of $100.91 and a two-hundred day moving average of $99.29. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $74.39 and a twelve month high of $118.07. The company has a market cap of $62.62 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.