ONEOK, Inc. (NYSE:OKE) Stock Position Decreased by Del Sette Capital Management LLC

Del Sette Capital Management LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,649 shares of the utilities provider's stock after selling 3,962 shares during the quarter. ONEOK comprises approximately 1.8% of Del Sette Capital Management LLC's holdings, making the stock its 19th largest position. Del Sette Capital Management LLC's holdings in ONEOK were worth $2,174,000 at the end of the most recent reporting period.

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

ONEOK Stock Down 2.5 %

NYSE:OKE traded down $2.51 during trading hours on Thursday, hitting $98.76. 2,849,332 shares of the company's stock traded hands, compared to its average volume of 2,858,096. The stock's fifty day moving average price is $98.53 and its two-hundred day moving average price is $100.07. The firm has a market cap of $61.66 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70. 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 twelve month low of $76.23 and a twelve month high of $118.07.

Remove Ads

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.17%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is 79.69%.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. Scotiabank lowered their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price target for the company. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

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.