Chesley Taft & Associates LLC Reduces Holdings in ONEOK, Inc. (NYSE:OKE)

Chesley Taft & Associates LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.6% during the 4th quarter, HoldingsChannel reports. The firm owned 56,116 shares of the utilities provider’s stock after selling 363 shares during the period. Chesley Taft & Associates LLC’s holdings in ONEOK were worth $5,634,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OKE. Astoria Portfolio Advisors LLC. boosted its stake in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after buying an additional 96 shares during the period. Morton Capital Management LLC CA raised its position in ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after acquiring an additional 104 shares in the last quarter. HM Payson & Co. grew its stake in shares of ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares during the period. Ritholtz Wealth Management grew its stake in shares of ONEOK by 4.7% during the 4th quarter. Ritholtz Wealth Management now owns 2,363 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 106 shares during the period. Finally, Claro Advisors LLC lifted its stake in shares of ONEOK by 1.6% in the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock valued at $650,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $109.08 on Tuesday. The company has a 50-day simple moving average of $106.17 and a 200-day simple moving average of $96.02. 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 company has a market cap of $63.72 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company posted $0.99 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research analyst reports. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Truist Financial upped 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. Finally, Scotiabank assumed 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK 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.