Wright Investors Service Inc. Has $686,000 Stake in ONEOK, Inc. (NYSE:OKE)

Wright Investors Service Inc. decreased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 67.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,834 shares of the utilities provider's stock after selling 14,287 shares during the period. Wright Investors Service Inc.'s holdings in ONEOK were worth $686,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Marcum Wealth LLC increased its position in ONEOK by 2.0% during the fourth quarter. Marcum Wealth LLC now owns 10,142 shares of the utilities provider's stock worth $1,018,000 after acquiring an additional 195 shares during the period. FNY Investment Advisers LLC increased its holdings in shares of ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after purchasing an additional 21,847 shares during the period. AdvisorNet Financial Inc raised its position in shares of ONEOK by 10.3% during the fourth quarter. AdvisorNet Financial Inc now owns 29,757 shares of the utilities provider's stock valued at $2,988,000 after buying an additional 2,784 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of ONEOK by 2.5% in the fourth quarter. Claro Advisors LLC now owns 7,308 shares of the utilities provider's stock valued at $734,000 after buying an additional 176 shares during the period. Finally, Cadent Capital Advisors LLC grew its position in ONEOK by 1.5% during the fourth quarter. Cadent Capital Advisors LLC now owns 86,654 shares of the utilities provider's stock worth $8,700,000 after buying an additional 1,263 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company cut ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. US Capital Advisors raised ONEOK from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Barclays raised their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. Finally, Mizuho raised shares of ONEOK to a "hold" rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.54.

ONEOK Trading Up 2.0 %

OKE traded up $2.03 during trading on Tuesday, reaching $106.01. 2,569,683 shares of the company's stock were exchanged, compared to its average volume of 2,739,735. The company's fifty day moving average price is $105.80 and its 200-day moving average price is $95.11. The firm has a market capitalization of $61.93 billion, a PE ratio of 22.18, a P/E/G ratio of 5.24 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. 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 (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS 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 for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the firm earned $0.99 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Friday, November 1st. ONEOK's dividend payout ratio is currently 82.85%.

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.