Hanson & Doremus Investment Management trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,497 shares of the utilities provider’s stock after selling 980 shares during the quarter. Hanson & Doremus Investment Management’s holdings in ONEOK were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. M&R Capital Management Inc. acquired a new position in shares of ONEOK in the fourth quarter worth about $30,000. Gradient Investments LLC raised its stake in ONEOK by 32.8% during the 4th quarter. Gradient Investments LLC now owns 781 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 193 shares during the period. Stonebridge Capital Advisors LLC acquired a new stake in ONEOK during the 2nd quarter valued at $60,000. Country Trust Bank raised its stake in ONEOK by 51.0% during the 4th quarter. Country Trust Bank now owns 944 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 319 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of ONEOK in the third quarter valued at $74,000. Institutional investors own 73.29% of the company’s stock.
Several analysts have recently commented on OKE shares. Tudor Pickering initiated coverage on ONEOK in a research report on Friday, November 8th. They issued a “buy” rating and a $74.00 target price for the company. Morgan Stanley initiated coverage on ONEOK in a research report on Monday, January 6th. They set an “underweight” rating and a $63.00 price objective for the company. Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price objective for the company. in a research report on Wednesday, September 18th. Raymond James lowered their target price on ONEOK from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. ONEOK presently has an average rating of “Hold” and an average target price of $74.38.
Shares of ONEOK stock traded up $0.83 during trading on Thursday, hitting $77.07. 40,016 shares of the stock traded hands, compared to its average volume of 1,749,501. The stock has a market cap of $31.38 billion, a P/E ratio of 27.71, a PEG ratio of 1.88 and a beta of 1.15. The company has a fifty day moving average price of $74.12 and a two-hundred day moving average price of $71.55. ONEOK, Inc. has a twelve month low of $60.74 and a twelve month high of $77.21. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 1.26.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.36 billion. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.935 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.92. This represents a $3.74 annualized dividend and a dividend yield of 4.85%. ONEOK’s dividend payout ratio is 131.65%.
In related news, CAO Mary M. Spears sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.85, for a total value of $143,700.00. Following the transaction, the chief accounting officer now directly owns 10,263 shares of the company’s stock, valued at approximately $737,396.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark W. Helderman acquired 6,094 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $73.36 per share, for a total transaction of $447,055.84. 0.60% of the stock is currently owned by company insiders.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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