Zurcher Kantonalbank Zurich Cantonalbank Sells 13,429 Shares of ONEOK, Inc. (NYSE:OKE)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in ONEOK, Inc. (NYSE:OKE) by 4.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 269,964 shares of the utilities provider’s stock after selling 13,429 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ONEOK were worth $24,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. Quest Partners LLC bought a new stake in shares of ONEOK in the 2nd quarter worth approximately $28,000. Matrix Trust Co bought a new stake in ONEOK in the third quarter worth $29,000. Ridgewood Investments LLC bought a new position in shares of ONEOK during the second quarter valued at about $31,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. purchased a new position in ONEOK in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

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

Wall Street Analyst Weigh In

OKE has been the topic of a number of analyst reports. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

ONEOK Price Performance

OKE stock opened at $113.64 on Friday. 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 firm has a 50 day moving average price of $100.75 and a 200-day moving average price of $90.01. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm has a market capitalization of $66.39 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 5.69 and a beta of 1.66.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period last year, the company posted $0.99 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.48%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

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.