Mutual of America Capital Management LLC Cuts Holdings in ONEOK, Inc. (NYSE:OKE)

Mutual of America Capital Management LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,913 shares of the utilities provider’s stock after selling 1,688 shares during the period. Mutual of America Capital Management LLC’s holdings in ONEOK were worth $6,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. O Shaughnessy Asset Management LLC lifted its position in ONEOK by 50.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 35,271 shares of the utilities provider’s stock valued at $2,828,000 after purchasing an additional 11,903 shares during the last quarter. Pitcairn Co. grew its position in ONEOK by 21.6% in the first quarter. Pitcairn Co. now owns 6,752 shares of the utilities provider’s stock worth $541,000 after acquiring an additional 1,199 shares in the last quarter. Crewe Advisors LLC bought a new stake in ONEOK during the first quarter worth approximately $178,000. CreativeOne Wealth LLC raised its position in ONEOK by 44.8% during the first quarter. CreativeOne Wealth LLC now owns 22,242 shares of the utilities provider’s stock valued at $1,783,000 after purchasing an additional 6,881 shares during the period. Finally, Freestone Capital Holdings LLC bought a new stake in shares of ONEOK in the 1st quarter valued at approximately $927,000. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

Insider Activity

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

ONEOK Stock Performance

Shares of ONEOK stock opened at $113.10 on Wednesday. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $113.23. The stock’s fifty day moving average price is $97.38 and its 200-day moving average price is $88.22. The firm has a market cap of $66.07 billion, a P/E ratio of 23.66, a P/E/G ratio of 5.48 and a beta of 1.66. 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 the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.50%. 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.