Haverford Trust Co Decreases Position in ONEOK, Inc. (NYSE:OKE)

Haverford Trust Co lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 38.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,150 shares of the utilities provider’s stock after selling 3,917 shares during the quarter. Haverford Trust Co’s holdings in ONEOK were worth $617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at $30,000. Canton Hathaway LLC bought a new stake in ONEOK in the fourth quarter worth about $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK in the fourth quarter worth about $48,000. VSM Wealth Advisory LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $50,000. Finally, OFI Invest Asset Management bought a new position in shares of ONEOK during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OKE. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Wells Fargo & Company lowered their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Seven equities research 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Up 0.1 %

ONEOK stock opened at $102.42 on Wednesday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The business has a fifty day moving average of $98.84 and a two-hundred day moving average of $100.07. The firm has a market cap of $63.94 billion, a P/E ratio of 21.43, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company 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%. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share 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 paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

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.