Inceptionr LLC Cuts Stake in ONEOK, Inc. (NYSE:OKE)

Inceptionr LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 40.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,514 shares of the utilities provider's stock after selling 8,524 shares during the period. Inceptionr LLC's holdings in ONEOK were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Astoria Portfolio Advisors LLC. boosted its stake in shares of ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after acquiring an additional 96 shares in the last quarter. McAdam LLC increased its stake in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock worth $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after acquiring an additional 100 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA lifted its position in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after acquiring an additional 104 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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ONEOK Trading Up 2.1 %

Shares of NYSE OKE traded up $1.89 during mid-day trading on Monday, reaching $91.46. 5,994,733 shares of the company's stock were exchanged, compared to its average volume of 4,128,707. The company's 50-day moving average is $100.00 and its 200-day moving average is $99.46. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $57.10 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

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

ONEOK Increases Dividend

The company also recently declared 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. This represents a $4.12 dividend on an annualized basis and a yield of 4.50%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio is 79.69%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Seven equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.31.

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.