ONEOK, Inc. (NYSE:OKE) Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 8.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,360 shares of the utilities provider’s stock after selling 903 shares during the period. Private Advisory Group LLC’s holdings in ONEOK were worth $853,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Matrix Trust Co purchased a new stake in ONEOK in the third quarter valued at $29,000. Morton Capital Management LLC CA grew its holdings in shares of ONEOK by 2.5% during the 3rd quarter. Morton Capital Management LLC CA now owns 7,209 shares of the utilities provider’s stock worth $657,000 after purchasing an additional 173 shares during the period. USA Financial Formulas increased its position in shares of ONEOK by 15.8% during the 3rd quarter. USA Financial Formulas now owns 11,907 shares of the utilities provider’s stock worth $1,085,000 after purchasing an additional 1,627 shares during the last quarter. Marcum Wealth LLC raised its holdings in ONEOK by 1.8% in the 3rd quarter. Marcum Wealth LLC now owns 9,947 shares of the utilities provider’s stock valued at $906,000 after buying an additional 176 shares during the period. Finally, Perkins Coie Trust Co lifted its position in ONEOK by 50.0% in the third quarter. Perkins Coie Trust Co now owns 1,500 shares of the utilities provider’s stock valued at $137,000 after buying an additional 500 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.0 %

Shares of ONEOK stock opened at $96.59 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $96.64. The company has a market capitalization of $56.42 billion, a P/E ratio of 21.04, a P/E/G ratio of 4.68 and a beta of 1.67. The company has a 50 day moving average of $90.11 and a 200 day moving average of $83.95.

ONEOK (NYSE:OKE) last released 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. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the company earned $1.04 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Insider Activity at ONEOK

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 transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OKE shares. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Barclays boosted their target price on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Scotiabank upped their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. increased 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. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.38.

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.