ONEOK, Inc. (NYSE:OKE) Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC reduced its stake in ONEOK, Inc. (NYSE:OKE) by 48.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 384 shares of the utilities provider’s stock after selling 361 shares during the period. Bellevue Asset Management LLC’s holdings in ONEOK were worth $39,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ethos Financial Group LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $218,000. Raymond James Financial Inc. purchased a new position in ONEOK in the 4th quarter valued at $182,694,000. Promus Capital LLC purchased a new position in ONEOK in the 4th quarter valued at $70,000. Vision Financial Markets LLC purchased a new position in ONEOK in the 4th quarter valued at $251,000. Finally, Arizona State Retirement System grew its position in ONEOK by 1.5% in the 4th quarter. Arizona State Retirement System now owns 169,645 shares of the utilities provider’s stock valued at $17,032,000 after buying an additional 2,431 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 2.0 %

OKE opened at $91.95 on Thursday. 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 has a market capitalization of $57.40 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The business has a 50-day moving average of $100.45 and a two-hundred day moving average of $99.34. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (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 business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. On average, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 79.69%.

Analyst Ratings Changes

OKE has been the topic of a number of analyst reports. Scotiabank initiated coverage on shares of ONEOK in a research 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. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $104.15.

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.