ARK & TLK Investments LLC Sells 755 Shares of ONEOK, Inc. (NYSE:OKE)

ARK & TLK Investments LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 22.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,582 shares of the utilities provider’s stock after selling 755 shares during the period. ARK & TLK Investments LLC’s holdings in ONEOK were worth $259,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the 4th quarter worth $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the 4th quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new position in shares of ONEOK during the 4th quarter valued at about $48,000. VSM Wealth Advisory LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $50,000. Finally, OFI Invest Asset Management bought a new stake in ONEOK during the 4th quarter worth approximately $51,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock opened at $98.47 on Friday. The company has a fifty day simple moving average of $98.32 and a two-hundred day simple moving average of $100.17. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $61.48 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS 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 company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OKE shares. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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.