Chicago Partners Investment Group LLC Trims Position in ONEOK, Inc. (NYSE:OKE)

Chicago Partners Investment Group LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,548 shares of the utilities provider’s stock after selling 1,141 shares during the quarter. ONEOK comprises about 0.9% of Chicago Partners Investment Group LLC’s investment portfolio, making the stock its 26th biggest position. Chicago Partners Investment Group LLC’s holdings in ONEOK were worth $26,565,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth $28,000. Matrix Trust Co acquired a new stake in ONEOK during the third quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK in the 2nd quarter worth about $31,000. Manchester Capital Management LLC lifted its stake in shares of ONEOK by 66.4% in the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK during the 3rd quarter worth about $44,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 3.6 %

Shares of ONEOK stock opened at $93.36 on Friday. The business has a 50-day moving average price of $93.66 and a 200 day moving average price of $85.82. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $98.43. The firm has a market cap of $54.53 billion, a P/E ratio of 19.53, a P/E/G ratio of 4.20 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the company posted $0.99 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.04 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup lifted 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 upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Barclays boosted their price objective on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company increased their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.54.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

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.