Prudent Man Advisors LLC Sells 1,831 Shares of ONEOK, Inc. (NYSE:OKE)

Prudent Man Advisors LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 20.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,308 shares of the utilities provider’s stock after selling 1,831 shares during the quarter. Prudent Man Advisors LLC’s holdings in ONEOK were worth $666,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OKE. Quest Partners LLC bought a new position in shares of ONEOK during the 2nd quarter worth approximately $28,000. Matrix Trust Co purchased a new stake in shares of ONEOK during the 3rd quarter valued at $29,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK during the 2nd quarter valued at $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the 3rd quarter worth $37,000. Finally, Values First Advisors Inc. purchased a new position in ONEOK during the 3rd quarter worth $44,000. 69.13% of the stock is currently owned by institutional investors.

Insider Activity at ONEOK

In other 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 value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

OKE has been the subject of several recent analyst reports. Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup upped 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. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Performance

Shares of OKE stock opened at $109.81 on Monday. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $110.05. 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 stock has a market cap of $64.15 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. The business has a 50-day simple moving average of $96.54 and a 200-day simple moving average of $87.72.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

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.