Pine Valley Investments Ltd Liability Co Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Pine Valley Investments Ltd Liability Co decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,449 shares of the utilities provider’s stock after selling 1,248 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in ONEOK were worth $2,655,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OKE. Arkadios Wealth Advisors lifted its stake in shares of ONEOK by 18.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock valued at $302,000 after buying an additional 525 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of ONEOK by 6.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 67,866 shares of the utilities provider’s stock valued at $6,184,000 after buying an additional 4,380 shares in the last quarter. First Financial Bankshares Inc purchased a new position in shares of ONEOK during the 3rd quarter valued at $200,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of ONEOK by 3.2% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,974 shares of the utilities provider’s stock valued at $544,000 after buying an additional 186 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $95.66 on Wednesday. The company has a market capitalization of $55.88 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $72.44 and a 12 month high of $118.07. The firm’s 50-day moving average is $100.97 and its 200 day moving average is $99.04. 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 issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 86.19%.

Analyst Upgrades and Downgrades

Several analysts have commented on OKE shares. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Finally, Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

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.