Prudent Man Advisors LLC Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

Prudent Man Advisors LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 20.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,308 shares of the utilities provider’s stock after selling 1,831 shares during the period. Prudent Man Advisors LLC’s holdings in ONEOK were worth $666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after purchasing an additional 501,216 shares during the period. Cetera Investment Advisers grew its holdings in shares of ONEOK by 370.1% in the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after purchasing an additional 484,403 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of ONEOK by 3,137.6% in the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after buying an additional 392,644 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in ONEOK by 119.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock valued at $53,657,000 after buying an additional 320,967 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $109.81 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a fifty day moving average price of $96.54 and a 200-day moving average price of $87.72. The stock has a market cap of $64.15 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. ONEOK, Inc. has a 1 year low of $64.68 and a 1 year high of $110.05.

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

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. ONEOK’s dividend payout ratio is 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.