Orion Portfolio Solutions LLC Trims Position in ONEOK, Inc. (NYSE:OKE)

Orion Portfolio Solutions LLC lowered its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,247 shares of the utilities provider's stock after selling 15,528 shares during the period. Orion Portfolio Solutions LLC's holdings in ONEOK were worth $4,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OKE. FMR LLC increased its position in shares of ONEOK by 11.7% during the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider's stock valued at $106,797,000 after buying an additional 122,362 shares during the period. Fiduciary Trust Co grew its holdings in shares of ONEOK by 41.6% during the 3rd quarter. Fiduciary Trust Co now owns 8,038 shares of the utilities provider's stock worth $733,000 after acquiring an additional 2,363 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of ONEOK by 1.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider's stock worth $25,070,000 after acquiring an additional 5,067 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of ONEOK by 0.3% in the 3rd quarter. Captrust Financial Advisors now owns 100,222 shares of the utilities provider's stock valued at $9,133,000 after purchasing an additional 297 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of ONEOK by 4.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider's stock valued at $430,000 after purchasing an additional 200 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

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ONEOK Stock Up 1.0 %

Shares of OKE stock traded up $1.01 during mid-day trading on Wednesday, hitting $100.51. The company's stock had a trading volume of 2,148,611 shares, compared to its average volume of 3,029,789. The stock has a market cap of $62.75 billion, a price-to-earnings ratio of 21.03, a PEG 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 52-week low of $76.23 and a 52-week high of $118.07. The business has a 50-day moving average price of $97.91 and a 200 day moving average price of $100.36.

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, topping analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. ONEOK's dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research reports. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research note on Tuesday, December 3rd. Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Finally, Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.00.

About ONEOK

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.