CAP Partners LLC Trims Position in ONEOK, Inc. (NYSE:OKE)

CAP Partners LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,291 shares of the utilities provider’s stock after selling 210 shares during the period. CAP Partners LLC’s holdings in ONEOK were worth $676,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK during the first quarter valued at $26,000. HHM Wealth Advisors LLC purchased a new position in ONEOK in the fourth quarter valued at $32,000. American National Bank acquired a new position in shares of ONEOK in the first quarter worth about $32,000. Finally, Security National Bank purchased a new stake in shares of ONEOK during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley increased their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Mizuho raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Finally, Truist Financial increased their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.50.

ONEOK Trading Up 0.6 %

Shares of NYSE:OKE traded up $0.49 during mid-day trading on Friday, reaching $87.46. 5,610,574 shares of the company were exchanged, compared to its average volume of 2,786,708. The firm has a market cap of $51.05 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 4.54 and a beta of 1.65. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $87.74. The firm’s 50-day simple moving average is $82.39 and its 200 day simple moving average is $79.09.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the company posted $1.04 EPS. Equities research analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.53%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

ONEOK Company 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.