ONEOK, Inc. (NYSE:OKE) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. cut its stake in ONEOK, Inc. (NYSE:OKE) by 18.9% in the fourth quarter, HoldingsChannel reports. The fund owned 10,665 shares of the utilities provider’s stock after selling 2,484 shares during the period. Linscomb Wealth Inc.’s holdings in ONEOK were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Arkadios Wealth Advisors lifted its stake in shares of ONEOK by 18.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock valued at $302,000 after purchasing an additional 525 shares during the period. Pinnacle Associates Ltd. increased its holdings in ONEOK by 37.7% in the third quarter. Pinnacle Associates Ltd. now owns 5,776 shares of the utilities provider’s stock valued at $526,000 after buying an additional 1,582 shares in the last quarter. HM Payson & Co. raised its position in shares of ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 105 shares during the period. US Bancorp DE boosted its stake in shares of ONEOK by 2.4% during the 3rd quarter. US Bancorp DE now owns 86,296 shares of the utilities provider’s stock worth $7,864,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Stephens Inc. AR grew its position in shares of ONEOK by 1.0% during the 3rd quarter. Stephens Inc. AR now owns 41,028 shares of the utilities provider’s stock valued at $3,739,000 after acquiring an additional 403 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 3.8 %

OKE opened at $100.29 on Friday. The firm has a market capitalization of $58.59 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company’s 50 day simple moving average is $100.91 and its two-hundred day simple moving average is $99.10. ONEOK, Inc. has a 1-year low of $74.39 and a 1-year 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.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.11%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OKE shares. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Barclays assumed coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.15.

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.