Parkside Financial Bank & Trust Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Parkside Financial Bank & Trust trimmed its position in ONEOK, Inc. (NYSE:OKE) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,026 shares of the utilities provider’s stock after selling 138 shares during the quarter. Parkside Financial Bank & Trust’s holdings in ONEOK were worth $505,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC grew its holdings in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the period. Janus Henderson Group PLC grew its holdings in ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after acquiring an additional 11,189 shares during the period. Chickasaw Capital Management LLC grew its holdings in ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after acquiring an additional 263,545 shares during the period. Finally, Barclays PLC grew its holdings in ONEOK by 16.1% during the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after acquiring an additional 262,486 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on OKE shares. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup started coverage on ONEOK in a report on Friday. They set a “buy” rating and a $110.00 target price on the stock. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. Seven investment 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 stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Stock Performance

NYSE OKE opened at $100.29 on Friday. ONEOK, Inc. has a 1-year low of $74.39 and a 1-year high of $118.07. The company has a market cap of $58.59 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 stock’s 50 day simple moving average is $100.91 and its 200-day simple moving average is $99.10.

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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities research analysts anticipate 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 of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.11%. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.