Cambridge Investment Research Advisors Inc. cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,889 shares of the utilities provider’s stock after selling 4,242 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in ONEOK were worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of OKE. Delta Asset Management LLC TN purchased a new stake in shares of ONEOK in the second quarter worth approximately $103,000. Ropes Wealth Advisors LLC bought a new position in ONEOK in the second quarter worth approximately $103,000. Smithfield Trust Co. boosted its position in ONEOK by 107.7% during the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 1,034 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its position in ONEOK by 462.9% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Mercer Capital Advisers Inc. boosted its position in ONEOK by 229.8% during the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 1,379 shares in the last quarter. Institutional investors and hedge funds own 71.02% of the company’s stock.
Several analysts have issued reports on the company. UBS increased their target price on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. BidaskClub cut ONEOK from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Mizuho began coverage on ONEOK in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 price objective for the company. Barclays began coverage on ONEOK in a research report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price objective for the company. Finally, Jefferies Group reissued a “hold” rating and issued a $52.00 price objective (up previously from $51.00) on shares of ONEOK in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $59.07.
In related news, Director Brian L. Derksen bought 1,800 shares of the stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $51.00 per share, for a total transaction of $91,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.
ONEOK, Inc. (NYSE:OKE) traded up $0.18 during trading hours on Monday, hitting $52.29. The stock had a trading volume of 3,566,670 shares, compared to its average volume of 3,242,410. ONEOK, Inc. has a 52-week low of $47.14 and a 52-week high of $59.47. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41. The firm has a market cap of $20,050.00, a PE ratio of 32.57, a PEG ratio of 3.34 and a beta of 1.26.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business earned $0.43 earnings per share. equities research analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were issued a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Friday, November 3rd. ONEOK’s payout ratio is 186.25%.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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