United Services Automobile Association Sells 385 Shares of ONEOK, Inc. (NYSE:OKE)

United Services Automobile Association trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,608 shares of the utilities provider’s stock after selling 385 shares during the quarter. United Services Automobile Association’s holdings in ONEOK were worth $1,273,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $297,948,000. First Eagle Investment Management LLC raised its stake in ONEOK by 77.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,086,559 shares of the utilities provider’s stock valued at $216,738,000 after buying an additional 1,351,626 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after buying an additional 1,128,066 shares during the last quarter. M&G Plc bought a new stake in shares of ONEOK in the first quarter worth $77,634,000. Finally, Kayne Anderson Capital Advisors LP increased its position in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after acquiring an additional 825,464 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of recent research reports. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Mizuho boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Truist Financial raised their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $89.92.

ONEOK Stock Performance

NYSE:OKE opened at $92.03 on Tuesday. The stock has a 50-day moving average price of $85.45 and a 200 day moving average price of $81.38. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $93.00. The stock has a market capitalization of $53.75 billion, a P/E ratio of 21.40, a P/E/G ratio of 4.51 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the business earned $1.04 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is 92.09%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’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 transaction 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 owned by insiders.

ONEOK 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.