Wedbush Securities Inc. Decreases Position in ONEOK, Inc. (OKE)

Wedbush Securities Inc. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 18.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,139 shares of the utilities provider’s stock after selling 1,813 shares during the quarter. Wedbush Securities Inc.’s holdings in ONEOK were worth $552,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JNBA Financial Advisors increased its stake in shares of ONEOK by 827.4% in the 3rd quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock worth $138,000 after acquiring an additional 1,812 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in shares of ONEOK in the 3rd quarter worth about $140,000. Rehmann Capital Advisory Group increased its stake in shares of ONEOK by 205.6% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock worth $171,000 after acquiring an additional 1,643 shares in the last quarter. Palo Capital Inc. bought a new position in shares of ONEOK in the 3rd quarter worth about $175,000. Finally, First Hawaiian Bank bought a new position in shares of ONEOK in the 3rd quarter worth about $177,000. Institutional investors own 73.24% of the company’s stock.

Shares of NYSE OKE opened at $59.99 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.51 and a debt-to-equity ratio of 1.25. The stock has a market cap of $24.42 billion, a PE ratio of 34.09, a P/E/G ratio of 2.21 and a beta of 0.90. ONEOK, Inc. has a 52-week low of $51.28 and a 52-week high of $71.99.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate 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 firm posted $0.43 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 2.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were issued a $0.855 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, November 2nd. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.70%. ONEOK’s dividend payout ratio (DPR) is presently 194.32%.

Several research analysts recently issued reports on the stock. ValuEngine lowered shares of ONEOK from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Mizuho began coverage on shares of ONEOK in a research report on Wednesday, November 28th. They set a “neutral” rating and a $70.00 price objective on the stock. Wells Fargo & Co cut their price objective on shares of ONEOK from $77.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, September 13th. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, October 19th. Finally, Stifel Nicolaus set a $64.00 price objective on shares of ONEOK and gave the company a “hold” rating in a research report on Thursday, November 1st. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. ONEOK currently has a consensus rating of “Buy” and an average price target of $70.65.

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ONEOK Company Profile

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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