ONEOK, Inc. (NYSE:OKE) Stock Position Lowered by Entropy Technologies LP

Entropy Technologies LP cut its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 79.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,489 shares of the utilities provider's stock after selling 28,235 shares during the quarter. Entropy Technologies LP's holdings in ONEOK were worth $682,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. boosted its position in shares of ONEOK by 3.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider's stock worth $554,158,000 after purchasing an additional 232,043 shares in the last quarter. Energy Income Partners LLC raised its holdings in ONEOK by 10.3% during the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider's stock worth $275,362,000 after purchasing an additional 319,487 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider's stock worth $272,377,000 after purchasing an additional 132,326 shares in the last quarter. International Assets Investment Management LLC grew its holdings in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Finally, abrdn plc raised its stake in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider's stock worth $195,545,000 after buying an additional 277,514 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 1.8 %

ONEOK stock traded up $1.93 during trading on Friday, reaching $109.81. 3,474,293 shares of the company's stock were exchanged, compared to its average volume of 2,766,329. The company's 50-day moving average is $96.17 and its two-hundred day moving average is $87.38. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $110.05. The firm has a market cap of $64.15 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 5.40 and a beta of 1.66.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 EPS. On average, analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK's payout ratio is 82.85%.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. Citigroup raised their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Royal Bank of Canada boosted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price target on the stock. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $100.38.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.