Foster & Motley Inc. decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,686 shares of the utilities provider’s stock after selling 1,286 shares during the quarter. Foster & Motley Inc.’s holdings in ONEOK were worth $724,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. BerganKDV Wealth Management LLC acquired a new stake in ONEOK in the second quarter valued at $117,000. TRUE Private Wealth Advisors acquired a new stake in ONEOK in the third quarter valued at $140,000. Rehmann Capital Advisory Group lifted its stake in ONEOK by 205.6% in the second quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock valued at $171,000 after acquiring an additional 1,643 shares during the last quarter. Palo Capital Inc. acquired a new stake in ONEOK in the third quarter valued at $175,000. Finally, Cribstone Capital Management LLC lifted its stake in ONEOK by 40.8% in the second quarter. Cribstone Capital Management LLC now owns 2,535 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 735 shares during the last quarter. Institutional investors and hedge funds own 73.29% of the company’s stock.
In other ONEOK news, Director Brian L. Derksen purchased 1,500 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were acquired at an average cost of $67.60 per share, with a total value of $101,400.00. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at $344,760. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.
OKE has been the subject of a number of recent analyst reports. Seaport Global Securities upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, October 19th. ValuEngine upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Credit Suisse Group initiated coverage on shares of ONEOK in a research note on Thursday, October 11th. They issued a “neutral” rating and a $74.00 price target for the company. Goldman Sachs Group initiated coverage on shares of ONEOK in a research note on Monday, October 8th. They issued a “neutral” rating and a $68.00 price target for the company. Finally, Barclays cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $73.00 to $70.00 in a research note on Friday, October 12th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. ONEOK currently has an average rating of “Buy” and a consensus price target of $70.31.
NYSE OKE opened at $62.53 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.74 and a debt-to-equity ratio of 1.25. The stock has a market cap of $26.98 billion, a PE ratio of 25.33, a P/E/G ratio of 2.53 and a beta of 0.91. ONEOK, Inc. has a 52-week low of $49.65 and a 52-week high of $71.99.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.31 billion. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. During the same quarter last year, the company posted $0.43 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 2.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.855 per share. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, November 2nd. This is a boost from ONEOK’s previous quarterly dividend of $0.83. ONEOK’s dividend payout ratio (DPR) is currently 187.50%.
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
See Also: Investing strategies using the yield curve
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.