Geneos Wealth Management Inc. Reduces Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Geneos Wealth Management Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,503 shares of the utilities provider’s stock after selling 1,184 shares during the quarter. Geneos Wealth Management Inc.’s holdings in ONEOK were worth $4,167,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. National Pension Service grew its position in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares during the period. Leavell Investment Management Inc. grew its holdings in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV increased its position in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the last quarter. Sageworth Trust Co acquired a new position in ONEOK in the third quarter valued at about $568,000. Finally, Fifth Third Wealth Advisors LLC boosted its stake in ONEOK by 222.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after buying an additional 11,160 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $104.42 on Friday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $61.00 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The business’s fifty day moving average price is $106.00 and its 200 day moving average price is $96.50.

ONEOK (NYSE:OKE) last released 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). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the company posted $0.99 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OKE. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Barclays upped their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.