Coldstream Capital Management Inc. Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Coldstream Capital Management Inc. grew its holdings in ONEOK, Inc. (NYSE:OKE) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,133 shares of the utilities provider’s stock after purchasing an additional 790 shares during the period. Coldstream Capital Management Inc.’s holdings in ONEOK were worth $2,620,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OKE. Principal Securities Inc. bought a new position in shares of ONEOK in the fourth quarter worth $245,000. Dimensional Fund Advisors LP grew its holdings in ONEOK by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,214,343 shares of the utilities provider’s stock valued at $225,716,000 after buying an additional 30,098 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of ONEOK by 5.2% during the fourth quarter. Principal Financial Group Inc. now owns 696,322 shares of the utilities provider’s stock valued at $48,896,000 after buying an additional 34,162 shares during the period. Ieq Capital LLC lifted its holdings in shares of ONEOK by 22.5% in the fourth quarter. Ieq Capital LLC now owns 17,425 shares of the utilities provider’s stock worth $1,224,000 after buying an additional 3,204 shares in the last quarter. Finally, Quotient Wealth Partners LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $1,004,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent analyst reports. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Mizuho lifted their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Morgan Stanley boosted their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Royal Bank of Canada raised their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company boosted their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of “Hold” and a consensus price target of $89.92.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The stock was 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 through this link. 0.20% of the stock is owned by insiders.

ONEOK Price Performance

OKE opened at $91.72 on Wednesday. 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, Inc. has a 1 year low of $60.58 and a 1 year high of $93.00. The stock’s 50 day simple moving average is $85.64 and its 200 day simple moving average is $81.52. The firm has a market cap of $53.53 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 4.51 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the previous year, the firm earned $1.04 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.32%. ONEOK’s dividend payout ratio is currently 92.09%.

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.