ONEOK, Inc. (NYSE:OKE) Stock Holdings Trimmed by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,868 shares of the utilities provider’s stock after selling 456 shares during the quarter. ONEOK accounts for approximately 0.8% of Silverlake Wealth Management LLC’s holdings, making the stock its 26th largest position. Silverlake Wealth Management LLC’s holdings in ONEOK were worth $2,084,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Rise Advisors LLC bought a new position in ONEOK during the first quarter valued at about $25,000. Quest Partners LLC acquired a new position in shares of ONEOK in the 2nd quarter worth approximately $28,000. Matrix Trust Co bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new stake in ONEOK during the second quarter valued at approximately $31,000. Finally, American National Bank bought a new stake in ONEOK during the first quarter worth approximately $32,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent research reports. Mizuho increased their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Citigroup boosted their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $92.38.

ONEOK Trading Up 2.0 %

OKE stock traded up $1.92 during trading on Friday, hitting $96.61. The company had a trading volume of 4,026,403 shares, compared to its average volume of 2,759,627. The firm has a 50-day moving average price of $90.44 and a 200-day moving average price of $84.07. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $96.64. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The stock has a market cap of $56.43 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the business earned $1.04 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders 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 was Thursday, August 1st. ONEOK’s payout ratio is 86.27%.

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.