Clearbridge Investments LLC Has $158.34 Million Position in ONEOK, Inc. (NYSE:OKE)

Clearbridge Investments LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 38.7% during the second quarter, Holdings Channel.com reports. The fund owned 1,941,640 shares of the utilities provider’s stock after selling 1,224,387 shares during the period. Clearbridge Investments LLC’s holdings in ONEOK were worth $158,341,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OKE. Rise Advisors LLC bought a new stake in shares of ONEOK in the first quarter worth about $25,000. LifeSteps Financial Inc. bought a new stake in ONEOK during the first quarter worth $26,000. Quest Partners LLC bought a new stake in shares of ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC acquired a new stake in ONEOK in the 2nd quarter valued at about $31,000. Finally, American National Bank bought a new position in ONEOK during the first quarter worth about $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on 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 this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on OKE shares. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Wells Fargo & Company upped their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Truist Financial upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Barclays lifted their price objective on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.38.

ONEOK Stock Up 1.3 %

NYSE OKE opened at $92.31 on Wednesday. The business has a fifty day moving average price of $88.40 and a two-hundred day moving average price of $83.25. The stock has a market capitalization of $53.88 billion, a PE ratio of 21.47, a PEG ratio of 4.71 and a beta of 1.67. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $96.05. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the company earned $1.04 EPS. Equities analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.