Donoghue Forlines LLC Has $1.77 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Donoghue Forlines LLC lifted its holdings in ONEOK, Inc. (NYSE:OKEGet Rating) by 41.6% during the 4th quarter, HoldingsChannel reports. The fund owned 30,192 shares of the utilities provider’s stock after acquiring an additional 8,875 shares during the quarter. Donoghue Forlines LLC’s holdings in ONEOK were worth $1,774,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. lifted its position in ONEOK by 34.9% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 349,416 shares of the utilities provider’s stock worth $20,532,000 after purchasing an additional 90,402 shares during the period. AGF Investments Inc. lifted its position in ONEOK by 9.9% during the third quarter. AGF Investments Inc. now owns 98,521 shares of the utilities provider’s stock worth $5,713,000 after purchasing an additional 8,856 shares during the period. Column Capital Advisors LLC lifted its position in ONEOK by 720.2% during the fourth quarter. Column Capital Advisors LLC now owns 1,017 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 893 shares during the period. Ibex Wealth Advisors lifted its position in ONEOK by 2.5% during the third quarter. Ibex Wealth Advisors now owns 111,644 shares of the utilities provider’s stock worth $6,474,000 after purchasing an additional 2,730 shares during the period. Finally, Alliancebernstein L.P. lifted its position in ONEOK by 4.6% during the third quarter. Alliancebernstein L.P. now owns 673,095 shares of the utilities provider’s stock worth $39,033,000 after purchasing an additional 29,897 shares during the period. Institutional investors and hedge funds own 65.46% of the company’s stock.

Several equities research analysts recently weighed in on OKE shares. Truist Financial upped their price objective on shares of ONEOK from $72.00 to $78.00 in a research report on Thursday, March 3rd. Wells Fargo & Company increased their target price on shares of ONEOK from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 8th. StockNews.com initiated coverage on shares of ONEOK in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays dropped their target price on shares of ONEOK from $66.00 to $65.00 in a report on Thursday, January 20th. Finally, Royal Bank of Canada increased their target price on shares of ONEOK from $63.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, March 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, ONEOK currently has a consensus rating of “Hold” and an average price target of $67.14.

NYSE OKE traded up $1.24 during trading hours on Tuesday, reaching $66.43. The company’s stock had a trading volume of 109,707 shares, compared to its average volume of 3,056,679. The firm has a fifty day simple moving average of $67.98 and a 200-day simple moving average of $64.03. The stock has a market cap of $29.67 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.00 and a beta of 1.75. ONEOK, Inc. has a 52 week low of $48.51 and a 52 week high of $75.07. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.76 and a quick ratio of 0.55.

ONEOK (NYSE:OKEGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5 billion. ONEOK had a net margin of 8.01% and a return on equity of 25.33%. During the same quarter last year, the business earned $0.86 EPS. On average, research analysts expect that ONEOK, Inc. will post 3.86 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, May 2nd were given a dividend of $0.935 per share. This represents a $3.74 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend was Friday, April 29th. ONEOK’s dividend payout ratio is presently 110.98%.

In other ONEOK news, Director Mark W. Helderman sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $67.27, for a total transaction of $2,018,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.65% of the company’s stock.

About ONEOK (Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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