Sound Income Strategies LLC Sells 86,931 Shares of ONEOK, Inc. (NYSE:OKE)

Sound Income Strategies LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 42.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,019 shares of the utilities provider’s stock after selling 86,931 shares during the quarter. Sound Income Strategies LLC’s holdings in ONEOK were worth $11,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Shilanski & Associates Inc. grew its holdings in shares of ONEOK by 17.8% during the 4th quarter. Shilanski & Associates Inc. now owns 15,439 shares of the utilities provider’s stock valued at $1,550,000 after purchasing an additional 2,333 shares during the last quarter. Brighton Jones LLC grew its stake in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the last quarter. New Century Financial Group LLC increased its holdings in shares of ONEOK by 3.7% in the fourth quarter. New Century Financial Group LLC now owns 3,142 shares of the utilities provider’s stock worth $323,000 after buying an additional 113 shares during the period. Veracity Capital LLC lifted its stake in shares of ONEOK by 0.7% in the 4th quarter. Veracity Capital LLC now owns 27,959 shares of the utilities provider’s stock valued at $2,807,000 after acquiring an additional 195 shares during the last quarter. Finally, Red Door Wealth Management LLC grew its position in ONEOK by 1.3% during the 4th quarter. Red Door Wealth Management LLC now owns 14,468 shares of the utilities provider’s stock worth $1,453,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.3 %

ONEOK stock opened at $104.91 on Friday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a market capitalization of $61.29 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The business’s fifty day simple moving average is $106.17 and its two-hundred day simple moving average is $96.28. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.99 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.93%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s payout ratio is presently 82.85%.

Analysts Set New Price Targets

OKE has been the subject of several recent research reports. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

About ONEOK

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.