Selective Wealth Management Inc. Sells 2,708 Shares of ONEOK, Inc. (NYSE:OKE)

by · The Markets Daily

Selective Wealth Management Inc. reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,636 shares of the utilities provider’s stock after selling 2,708 shares during the period. ONEOK accounts for approximately 0.5% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Selective Wealth Management Inc.’s holdings in ONEOK were worth $1,276,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in ONEOK in the 1st quarter valued at about $25,000. Quest Partners LLC purchased a new stake in shares of ONEOK in the second quarter valued at about $28,000. Matrix Trust Co bought a new position in shares of ONEOK during the third quarter valued at about $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the second quarter worth about $31,000. Finally, American National Bank bought a new stake in ONEOK in the 1st quarter worth about $32,000. 69.13% of the stock is owned by institutional investors.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

OKE traded up $0.16 on Thursday, reaching $94.91. The company had a trading volume of 523,104 shares, compared to its average volume of 2,748,830. The stock has a market cap of $55.39 billion, a P/E ratio of 22.03, a P/E/G ratio of 4.62 and a beta of 1.67. The company’s fifty day moving average is $89.85 and its 200 day moving average is $83.87. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $96.05.

ONEOK (NYSE:OKE – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Barclays upped their price objective on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Citigroup increased their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Truist Financial raised their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.38.

Get Our Latest Report on ONEOK

ONEOK Profile

(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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