ONEOK, Inc. (NYSE:OKE) is Disciplined Equity Management Inc.’s 7th Largest Position

Disciplined Equity Management Inc. cut its stake in ONEOK, Inc. (NYSE:OKE) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,215 shares of the utilities provider’s stock after selling 950 shares during the period. ONEOK comprises about 1.4% of Disciplined Equity Management Inc.’s holdings, making the stock its 7th largest holding. Disciplined Equity Management Inc.’s holdings in ONEOK were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. boosted its holdings in ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after purchasing an additional 232,043 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in ONEOK by 28.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the period. First Eagle Investment Management LLC boosted its holdings in ONEOK by 12.3% in the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after purchasing an additional 378,509 shares during the period. Energy Income Partners LLC boosted its holdings in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after purchasing an additional 319,487 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ONEOK

In other ONEOK 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 accessible through this link. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on OKE. Royal Bank of Canada raised their price target on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Mizuho raised their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.38.

ONEOK Stock Performance

NYSE OKE opened at $96.61 on Monday. 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 business’s 50-day moving average price is $90.44 and its 200 day moving average price is $84.14. The firm has a market cap of $56.43 billion, a P/E ratio of 21.05, a P/E/G ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the company posted $1.04 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 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.