Kayne Anderson Capital Advisors LP Lowers Stake in ONEOK, Inc. (NYSE:OKE)

Kayne Anderson Capital Advisors LP decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,298,034 shares of the utilities provider’s stock after selling 215,730 shares during the quarter. ONEOK accounts for about 7.7% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 4th largest position. Kayne Anderson Capital Advisors LP owned approximately 0.56% of ONEOK worth $300,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Matrix Trust Co bought a new stake in shares of ONEOK during the 3rd quarter valued at $29,000. Quest Partners LLC bought a new stake in ONEOK during the second quarter valued at about $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter worth about $31,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $37,000. Finally, Values First Advisors Inc. purchased a new position in ONEOK during the third quarter valued at approximately $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Trading Up 1.8 %

OKE stock opened at $109.81 on Monday. The firm’s fifty day simple moving average is $96.54 and its two-hundred day simple moving average is $87.72. The stock has a market capitalization of $64.15 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $64.68 and a twelve month high of $110.05.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Wells Fargo & Company boosted their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Citigroup lifted their price objective 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. Finally, Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.