Armstrong Advisory Group Inc. Sells 401 Shares of ONEOK, Inc. (NYSE:OKE)

Armstrong Advisory Group Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,717 shares of the utilities provider’s stock after selling 401 shares during the period. Armstrong Advisory Group Inc.’s holdings in ONEOK were worth $339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. increased its holdings in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after acquiring an additional 232,043 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after acquiring an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after acquiring an additional 378,509 shares during the last quarter. Energy Income Partners LLC increased its holdings in ONEOK by 10.3% in the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after acquiring an additional 319,487 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after acquiring an additional 132,326 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 2.0 %

NYSE:OKE opened at $96.61 on Monday. The company has a market cap of $56.43 billion, a PE ratio of 21.05, a P/E/G ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $96.64. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average is $90.44 and its two-hundred day moving average is $84.14.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the firm earned $1.04 EPS. Analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.10%. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Barclays lifted their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.38.

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.