Securian Asset Management Inc. Sells 906 Shares of ONEOK, Inc. (NYSE:OKE)

Securian Asset Management Inc. cut its position in ONEOK, Inc. (NYSE:OKE) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,397 shares of the utilities provider’s stock after selling 906 shares during the period. Securian Asset Management Inc.’s holdings in ONEOK were worth $3,152,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc grew its position in shares of ONEOK by 76.9% in the 3rd quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider’s stock valued at $2,147,000 after acquiring an additional 10,240 shares during the period. Sigma Planning Corp lifted its stake in ONEOK by 2.8% in the 3rd quarter. Sigma Planning Corp now owns 13,095 shares of the utilities provider’s stock valued at $1,193,000 after purchasing an additional 352 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in ONEOK by 3.2% during the third quarter. Crossmark Global Holdings Inc. now owns 24,806 shares of the utilities provider’s stock worth $2,260,000 after purchasing an additional 772 shares during the period. Los Angeles Capital Management LLC increased its position in ONEOK by 34.2% during the third quarter. Los Angeles Capital Management LLC now owns 37,258 shares of the utilities provider’s stock worth $3,395,000 after buying an additional 9,497 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in ONEOK in the third quarter valued at approximately $115,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 0.4 %

NYSE OKE opened at $93.00 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market cap of $58.06 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 3.77 and a beta of 1.70. The company has a 50 day moving average of $99.51 and a 200-day moving average of $99.48. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.43%. ONEOK’s payout ratio is presently 79.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OKE shares. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Scotiabank dropped their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Finally, US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

ONEOK 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.