Trademark Financial Management LLC Lowers Stake in ONEOK, Inc. (NYSE:OKE)

by · The Cerbat Gem

Trademark Financial Management LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,708 shares of the utilities provider’s stock after selling 236 shares during the quarter. Trademark Financial Management LLC’s holdings in ONEOK were worth $247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centennial Wealth Advisory LLC grew its position in ONEOK by 3.3% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,312 shares of the utilities provider’s stock valued at $484,000 after buying an additional 171 shares during the last quarter. Harvest Portfolios Group Inc. lifted its stake in shares of ONEOK by 2.3% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 63,396 shares of the utilities provider’s stock worth $5,777,000 after acquiring an additional 1,399 shares during the period. Callahan Advisors LLC boosted its holdings in shares of ONEOK by 2.9% in the third quarter. Callahan Advisors LLC now owns 10,818 shares of the utilities provider’s stock valued at $986,000 after acquiring an additional 301 shares in the last quarter. Catalina Capital Group LLC increased its stake in shares of ONEOK by 5.7% during the third quarter. Catalina Capital Group LLC now owns 3,890 shares of the utilities provider’s stock worth $354,000 after acquiring an additional 210 shares during the period. Finally, Avidian Wealth Enterprises LLC raised its holdings in ONEOK by 19.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 10,569 shares of the utilities provider’s stock worth $963,000 after purchasing an additional 1,687 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Mizuho raised their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Scotiabank upped their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

Read Our Latest Research Report on ONEOK

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

ONEOK Stock Up 3.6 %

OKE stock opened at $102.20 on Thursday. The company has a 50 day moving average price of $94.29 and a two-hundred day moving average price of $86.31. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $59.70 billion, a P/E ratio of 21.38, a PEG ratio of 4.08 and a beta of 1.66. ONEOK, Inc. has a one year low of $63.33 and a one year high of $103.12.

ONEOK (NYSE:OKE – Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

About ONEOK

(Free Report)

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.

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