ONEOK, Inc. (NYSE:OKE) Shares Sold by Old Port Advisors

Old Port Advisors reduced its stake in ONEOK, Inc. (NYSE:OKE) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,226 shares of the utilities provider’s stock after selling 157 shares during the period. Old Port Advisors’ holdings in ONEOK were worth $1,205,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Diversified Trust Co grew its stake in ONEOK by 8.7% during the 1st quarter. Diversified Trust Co now owns 4,019 shares of the utilities provider’s stock worth $322,000 after buying an additional 323 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of ONEOK by 464.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock worth $15,875,000 after acquiring an additional 162,963 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of ONEOK by 268.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 8,330 shares of the utilities provider’s stock worth $668,000 after acquiring an additional 6,068 shares during the period. Norden Group LLC lifted its position in ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after purchasing an additional 131,441 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in ONEOK by 1.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 16,334 shares of the utilities provider’s stock valued at $1,310,000 after purchasing an additional 204 shares during the period. 69.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent analyst reports. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Barclays raised their target price on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Finally, Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

ONEOK Stock Down 0.7 %

Shares of ONEOK stock opened at $96.02 on Tuesday. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $98.43. The firm has a market capitalization of $56.08 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The stock’s fifty day moving average is $93.01 and its 200-day moving average is $85.44.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the previous year, the company earned $1.04 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is 86.27%.

ONEOK Company Profile

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.