Ausbil Investment Management Ltd Sells 14,602 Shares of ONEOK, Inc. (NYSE:OKE)

Ausbil Investment Management Ltd reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,759 shares of the utilities provider’s stock after selling 14,602 shares during the quarter. ONEOK accounts for approximately 1.7% of Ausbil Investment Management Ltd’s holdings, making the stock its 20th biggest position. Ausbil Investment Management Ltd’s holdings in ONEOK were worth $5,993,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its position in ONEOK by 13.1% during the first quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock worth $600,000 after buying an additional 864 shares in the last quarter. Ballentine Partners LLC increased its position in shares of ONEOK by 8.2% during the first quarter. Ballentine Partners LLC now owns 4,224 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 319 shares during the period. Dynamic Advisor Solutions LLC lifted its position in ONEOK by 1.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 19,474 shares of the utilities provider’s stock worth $1,561,000 after purchasing an additional 350 shares during the period. Sovereign Financial Group Inc. acquired a new stake in ONEOK during the first quarter worth $218,000. Finally, Wealthcare Advisory Partners LLC increased its holdings in ONEOK by 14.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,571 shares of the utilities provider’s stock valued at $928,000 after buying an additional 1,500 shares during the period. 69.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Citigroup upped their price objective on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Truist Financial boosted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Barclays upped their price target on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Price Performance

Shares of NYSE OKE traded up $0.26 during trading on Thursday, reaching $97.02. The company had a trading volume of 287,044 shares, compared to its average volume of 2,721,388. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $98.43. The business’s 50 day moving average price is $92.46 and its 200-day moving average price is $85.04. The stock has a market cap of $56.67 billion, a PE ratio of 21.14, a PEG ratio of 4.20 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the prior year, the business earned $1.04 EPS. Analysts expect that ONEOK, Inc. will post 5.06 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.08%. ONEOK’s payout ratio is 86.27%.

ONEOK Company 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.